U.S. Code » Title 11 » Chapter CHAPTER 15— ANCILLARY AND OTHER CROSS-BORDER CASES › Subchapter SUBCHAPTER III— RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF

11 U.S.C. § 1522

Protection of creditors and other interested persons

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(a) The court may grant relief under section 1519 or 1521, or may modify or terminate relief under subsection (c), only if the interests of the creditors and other interested entities, including the debtor, are sufficiently protected.(b) The court may subject relief granted under section 1519 or 1521, or the operation of the debtor’s business under section 1520(a)(3), to conditions it considers appropriate, including the giving of security or the filing of a bond.(c) The court may, at the request of the foreign representative or an entity affected by relief granted under section 1519 or 1521, or at its own motion, modify or terminate such relief.(d) Section 1104(d) shall apply to the appointment of an examiner under this chapter. Any examiner shall comply with the qualification requirements imposed on a trustee by section 322.(Added Pub. L. 109–8, title VIII, § 801(a), Apr. 20, 2005, 119 Stat. 142.)Statutory Notes and Related SubsidiariesEffective 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 Pub. L. 109–8, set out as an Effective Date of 2005 Amendment note under section 101 of this title.

Notes of Decisions
Cited in 58 cases (18 in the last 5 years), 2006–2026 · leading case: In Re Tri-Continental Exchange Ltd.
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In Re Tri-Continental Exchange Ltd. (2006) caeb · cites it 5× “IV Finally, Bennett Truck, which claims to have a lien on all of the funds tied up in the in rem proceeding, urges that this court exercise its discretion under 11 U.S.C. § 1522 (b) to impose additional conditions on the release of the portion of the seized $1,603,653.”
In re Ace Track Co. (2016) ilnb · cites it 12× “’s Amended Motion for Order Granting Protection, under 11 U.S.C. § 1522 [Dkt. No. 64] (the “Amended Motion”), brought by USCO, S.”
In Re Atlas Shipping A/S (2009) nysb · cites it 3× “11 U.S.C. § 1522 (a). Section 1522(b) provides that the court may impose conditions on discretionary relief, such as the posting of security or a bond.”
Micron Technology, Inc. v. Qimonda AG (In Re Qimonda AG Bankruptcy Litigation) (2010) vaed · cites it 4× “Specifically at issue are the following questions: (i) whether the Bankruptcy Court properly ensured that appellants were sufficiently protected, as required by 11 U.S.C. § 1522 , in modifying the discretionary relief previously granted under 11 U.”
Michael Jaffe v. Samsung Electronics Company (2013) ca4 · cites it 9× “…including the debtor, are sufficiently protected.” 11 U.S.C. § 1522 (a). But we are not convinced that Jaffé’s theory can fully be squared with the text or with Congress’s intent in enacting the text. Section 1522(a) requires the bankruptcy court to ensure the”
In Re SPhinX, Ltd. (2006) nysb · cites it 2× “Finally, chapter 15 demonstrates its flexibility in provisions that permit the court to condition relief ( 11 U.S.C. § 1522 (b)) or modify previously granted relief in light of changed circumstances.”
In re Rede Energia S.A. (2014) nysb · cites it 3× “” 11 U.S.C. § 1522 (b). One court has observed that the policy underlying section 1522 is that there should be “a balance between relief that may be granted to the foreign representative and the interests of the person that may be affected by such relief.”
In Re International Banking Corp. B.S.C. (2010) nysb · cites it 2× “The Court may not grant relief under § 1521, unless “the interests of the creditors and other interested entities, including the debtor, are sufficiently protected,” 11 U.S.C. § 1522 (a), and may subject any relief granted “to conditions it considers appropriate, including the…”
CT Investment Management Co. v. Cozumel Caribe, S.A. de C.V. (In re Cozumel Caribe, S.A. de C.V.) (2012) nysb · cites it 2× “” 13 11 U.S.C. § 1522 (a). At least with respect to the funds belonging to the Non-Debtor Affiliates remaining in the Cash Management Account, the Court concludes that CTIM is sufficiently protected as a temporary matter as long as the funds remain in the United States.”
In re OI S.A. (2018) nysb · cites it 2× “%20%C2%A7%201522"> 11 U.S.C. § 1522 (a).”
In Re Millennium Global Emerging Credit Master Fund Ltd. (2011) nysb · cites it 2× “” 11 U.S.C. § 1522 (a). In any event, the “plain words” of the statute do not require that a foreign representative in a case like <a href="/opinion/147384/lavie-v-ran-in-re-ran/" aria-description="Citation for case: Lavie v.”
Jaffé v. Samsung Electronics Co. (In Re Qimonda AG) (2012) vaed · cites it 2× “, and 11 U.S.C. § 1522 . With respect to the former, the district court determined that Rule 60(b) was not applicable because the July 22, 2009 supplemental order was not a final order within the meaning of Rule 60(b).”
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