11 U.S.C. § 742
Effect of section 362 of this title in this subchapter
Notwithstanding section 362 of this title, SIPC may file an application for a protective decree under the Securities Investor Protection Act of 1970. The filing of such application stays all proceedings in the case under this title unless and until such application is dismissed. If SIPC completes the liquidation of the debtor, then the court shall dismiss the case.
Notes of Decisions
Cited in 79
cases, 1940–2016 · leading case: Nicholas v. United States, 384 U.S. 678 (1966).
Nicholas v. United States, 384 U.S. 678 (1966). “Bankruptcy Act §§ 342, 343, 11 U. S. C. §§ 742 , 743 (1964 ed.). But interest claimed on such a debt does not arise through a "delay" of the law in any meaningful sense.”
Dynamics Corp. of Am. v. Marine Midland Bank-New York, 505 N.E.2d 601 (N.Y. 1987). “Where no trustee is appointed, as in a chapter XI proceeding, those claims reside in the debtor-in-possession, whose powers and responsibilities are in a sense akin to those of a trustee appointed by the bankruptcy court (see, Bankruptcy Act § 342, 11 USC § 742 [1976]; Stein v…”
Ford Motor Credit Co. v. Robert L. Weaver, 680 F.2d 451 (6th Cir. 1982). “Bankruptcy Act, § 342, 11 U.S.C. § 742 (repealed); Bankruptcy Rule 11 — 18(b); 8 Collier, supra, ¶ 6.”
In the Matter of Emergency Beacon Corp., Debtor. Montco, Inc. v. Harvey S. Barr, 666 F.2d 754 (2d Cir. 1981). “Barr, the trustee in bankruptcy, was retained as trustee in possession pursuant to § 342 of the Bankruptcy Act, 11 U.S.C. § 742 (1976) and Bankruptcy Rule ll-18(b).”
In the Matter of the Bohack Corp., Debtor-In-Possession. The Bohack Corp. v. Borden, Inc., 599 F.2d 1160 (2d Cir. 1979). “11 U.S.C. § 742 . In conformance with § 314 of the Act, 11 U.”
Constructora Maza, Inc. v. Banco De Ponce, 616 F.2d 573 (1st Cir. 1980). “Although Maza may not initially have intended its deposits to apply to offset its existing indebtedness to the Bank, the December 26 transaction in effect amounted to a repurchase of a certificate of deposit, limited by the pledge of that certificate to the Bank, having the…”
In the Matter of Charles F. Schwab, Bankrupt. Colorado Livestock Prod. Credit Assoc. v. Charles F. Schwab, 613 F.2d 1279 (5th Cir. 1980). “It was not until June 13, 1973, more than a year after confirmation of the plan, that *1282 Schwab (in his status as debtor in possession exercising the powers of a trustee for the benefit of the unsecured creditors, 11 U.S.C. § 742 ) for the first time disputed the secured…”
Raymer v. Bay State Nat'l Bank, 424 N.E.2d 515 (Mass. 1981). “Bankruptcy Act § 342, 11 U.S.C. § 742 (1970). See4A Collier, Bankruptcy par.”
In re Southland Supply, Inc., Bankrupt. Sam Jonas, Tr. of Southland Supply, Inc. v. United States Small Bus. Admin., 657 F.2d 1076 (9th Cir. 1981). “At the time of the stipulation, Southland was the debtor in possession of the cause of action. As such, Southland acted as if it was the trustee, and had the power to dispose of the property or grant a lien, subject to court approval.”
Am. Anthracite & Bituminous Coal Corp. v. Leonardo Arrivabene, S.A., 280 F.2d 119 (2d Cir. 1960). “Second, § 342 of the Act, 11 U.S. C.A. § 742, states that the debtor in possession shall “exercise all the powers of a trustee appointed under this title.”
In the Matter of Halux, Inc., D/B/A Midwestern Cultured Marble, Inc., Debtor. Nw. Nat'l Bank of St. Paul v. Halux, Inc., 665 F.2d 213 (8th Cir. 1981). “11 U.S.C. § 742 . 6 .Because we find that Northwestern had neither knowledge of the auction sale or a common law or statutory duty to protect the leased property, we need not reach its contention that Halux was contractually required under the leases to protect the conveyor and…”
In re Copeland, 391 F. Supp. 134 (D. Del. 1975). “Bankruptcy Act § 342, 11 U.S.C. § 742 . In December 1970 the escrow agent, upon further demand, delivered the Christiana stock to Pension Benefit.”
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