11 USC 1531: Presumption of insolvency based on recognition of a foreign main proceeding
Text contains those laws in effect on September 6, 2024
From Title 11-BANKRUPTCYCHAPTER 15-ANCILLARY AND OTHER CROSS-BORDER CASESSUBCHAPTER V-CONCURRENT PROCEEDINGS
§1531. Presumption of insolvency based on recognition of a foreign main proceeding
In the absence of evidence to the contrary, recognition of a foreign main proceeding is, for the purpose of commencing a proceeding under section 303, proof that the debtor is generally not paying its debts as such debts become due.
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Statutory Notes and Related Subsidiaries
Effective Date
Section effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under this title before such effective date, except as otherwise provided, see section 1501 of