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. § 1520

Effects of recognition of a foreign main proceeding

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(a) Upon recognition of a foreign proceeding that is a foreign main proceeding—(1) sections 361 and 362 apply with respect to the debtor and the property of the debtor that is within the territorial jurisdiction of the United States;(2) sections 363, 549, and 552 apply to a transfer of an interest of the debtor in property that is within the territorial jurisdiction of the United States to the same extent that the sections would apply to property of an estate;(3) unless the court orders otherwise, the foreign representative may operate the debtor’s business and may exercise the rights and powers of a trustee under and to the extent provided by sections 363 and 552; and(4) section 552 applies to property of the debtor that is within the territorial jurisdiction of the United States.(b) Subsection (a) does not affect the right to commence an individual action or proceeding in a foreign country to the extent necessary to preserve a claim against the debtor.(c) Subsection (a) does not affect the right of a foreign representative or an entity to file a petition commencing a case under this title or the right of any party to file claims or take other proper actions in such a case.(Added Pub. L. 109–8, title VIII, § 801(a), Apr. 20, 2005, 119 Stat. 141.)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 79 cases (22 in the last 5 years), 2005–2026 · leading case: In re Ace Track Co.
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In re Ace Track Co. (2016) ilnb · cites it 14× “” 11 U.S.C. § 1520 (a)(1), As a result, and as expressly authorized by paragraph 5 of the Recognition Order, the day after the Recognition Order was entered, the Foreign Representative moved for relief from the stay to continue the VPI Arbitration.”
Morning Mist Holdings Ltd. v. Krys (2013) ca2 · cites it 4× “Pursuant to 11 U.S.C. § 1520 , recognition of the BVI liquidation as a foreign main proceeding imposed an automatic stay on any other proceedings against Sentry in the United States—including the derivative action brought by Morning Mist.”
Krys v. Farnum Place, LLC (2014) ca2 · cites it 7× “Because we conclude that the sale of the SIPA claims is a “transfer of an interest of the debtor in property that is within the territorial jurisdiction of the United States,” 11 U.S.C. § 1520 (a)(2), and therefore the sale is subject to review under section 363, and comity is…”
Drawbridge Special Opportunities Fund LP v. Barnet (2013) ca2 · cites it 3× “Nor does Drawbridge argue that it is affected by the automatic relief provided for in 11 U.S.C. § 1520 . 2 See Morning Mist Holdings Ltd.”
O'Sullivan v. Loy (2010) vaed · cites it 9× “render void) a transfer by Debtor Jonathan Loy of his United States property under 11 U.S.C. §§ 1520 (a)(2) and 549(a)(1) because the transfer occurred prior to the commencement of the Chapter 15 bankruptcy case.”
Micron Technology, Inc. v. Qimonda AG (In Re Qimonda AG Bankruptcy Litigation) (2010) vaed · cites it 4× “” 11 U.S.C. § 1520 (a). Yet, § 1521 provides a nonexclusive list of additional relief that may, in the discretion of a bankruptcy court, be granted “where necessary to effectuate the purpose of [Chapter 15] and to protect the assets of the debtor or the interests of the creditor.”
In Re: RCS Capital Development v. (2013) ca3 · cites it 3× “We must determine whether the Australian insolvency proceeding should be recognized as a foreign main proceeding under Chapter 15 of the Bankruptcy Code, and whether the debt- or’s fully-encumbered property in the United States is subject to the automatic stay under 11 U.S.C. §…”
In re Fairfield Sentry Ltd. (2015) nysb · cites it 7× “§ 363 was not mandatory because 11 U.S.C. § 1520 (a)(3) provided that a foreign representative may exercise the rights and powers under section 363, (ii) the entrustment power granted under 11 U.”
In re Agrokor D.D. (2018) nysb · cites it 3× “%20%C2%A7%201520"> 11 U.S.C. § 1520 (a) ("Upon recognition of a foreign proceeding that is a foreign main proceeding- (1) sections 361 and 362 apply with respect to .”
In Re Atlas Shipping A/S (2009) nysb · cites it 2× “11 U.S.C. § 1520 (a)(2). Section 1520 also allows a foreign representative to operate a debtor’s business by exercising the rights and powers of a trustee under sections 363 and 552; and it applies § 552 to property of the debtor that is within the territorial jurisdiction of…”
In Re Abc Learning Centres Ltd. (2011) deb · cites it 3× “” 11 U.S.C. § 1520 (a)(1). The imposition of an automatic stay upon recognition of a foreign main proceeding is necessary to ensure that the goals of Chapter 15 — including cooperation between U.”
In Re Tri-Continental Exchange Ltd. (2006) caeb · cites it 2× “agination" label="633"> *633 in As to the objection by creditor Bennett Truck that the case should only be recognized as a “foreign nonmain proceeding,” the battle is over whether the foreign representatives will have the benefits of the effects of recognition of a “foreign main…”
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