(a)Subject to section
1506, after notice and a hearing, an order recognizing a foreign proceeding shall be entered if—
(1)such foreign proceeding for which recognition is sought is a foreign main proceeding or foreign nonmain proceeding within the meaning of section
(2)the foreign representative applying for recognition is a person or body; and
(3)the petition meets the requirements of section
(b)Such foreign proceeding shall be recognized—
(1)as a foreign main proceeding if it is pending in the country where the debtor has the center of its main interests; or
(2)as a foreign nonmain proceeding if the debtor has an establishment within the meaning of section
1502 in the foreign country where the proceeding is pending.
(c)A petition for recognition of a foreign proceeding shall be decided upon at the earliest possible time. Entry of an order recognizing a foreign proceeding constitutes recognition under this chapter.
(d)The provisions of this subchapter do not prevent modification or termination of recognition if it is shown that the grounds for granting it were fully or partially lacking or have ceased to exist, but in considering such action the court shall give due weight to possible prejudice to parties that have relied upon the order granting recognition. A case under this chapter may be closed in the manner prescribed under section
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
LII has no control over and does not endorse any external Internet site that contains links to or references LII.