Section 946 - Effect of Exchange of Securities Before the Date of the Filing of the Petition
Title 11 of the United States Code - Bankruptcy
ADJUSTMENT OF DEBTS OF A MUNICIPALITY – CHAPTER 7
Effect of Exchange of Securities Before the Date of the Filing of the Petition - Section 946
11 USCS § 946
The exchange of a new security under the plan for a claim covered by the plan, whether such exchange occurred before or after the date of the filing of the petition, does not limit or impair the effectiveness of the plan or of any provision of this chapter [11 USCS §§ 901 et seq.]. The amount and number specified in section 1126(c) of this title [11 USCS § 1126(c)] include the amount and number of claims formerly held by a creditor that has participated in any such exchange.
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