Los Angeles Bankruptcy Attorney, Bankruptcy Lawyer, Bankruptcy Code 11 USC Section 1521

TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
    SUBCHAPTER III - RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF

-HEAD-
    Sec. 1521. Relief that may be granted upon recognition

-STATUTE-
      (a) Upon recognition of a foreign proceeding, whether main or
    nonmain, where necessary to effectuate the purpose of this chapter
    and to protect the assets of the debtor or the interests of the
    creditors, the court may, at the request of the foreign
    representative, grant any appropriate relief, including - 
        (1) staying the commencement or continuation of an individual
      action or proceeding concerning the debtor's assets, rights,
      obligations or liabilities to the extent they have not been
      stayed under section 1520(a);
        (2) staying execution against the debtor's assets to the extent
      it has not been stayed under section 1520(a);
        (3) suspending the right to transfer, encumber or otherwise
      dispose of any assets of the debtor to the extent this right has
      not been suspended under section 1520(a);
        (4) providing for the examination of witnesses, the taking of
      evidence or the delivery of information concerning the debtor's
      assets, affairs, rights, obligations or liabilities;
        (5) entrusting the administration or realization of all or part
      of the debtor's assets within the territorial jurisdiction of the
      United States to the foreign representative or another person,
      including an examiner, authorized by the court;
        (6) extending relief granted under section 1519(a); and
        (7) granting any additional relief that may be available to a
      trustee, except for relief available under sections 522, 544,
      545, 547, 548, 550, and 724(a).

      (b) Upon recognition of a foreign proceeding, whether main or
    nonmain, the court may, at the request of the foreign
    representative, entrust the distribution of all or part of the
    debtor's assets located in the United States to the foreign
    representative or another person, including an examiner, authorized
    by the court, provided that the court is satisfied that the
    interests of creditors in the United States are sufficiently
    protected.
      (c) In granting relief under this section to a representative of
    a foreign nonmain proceeding, the court must be satisfied that the
    relief relates to assets that, under the law of the United States,
    should be administered in the foreign nonmain proceeding or
    concerns information required in that proceeding.
      (d) The court may not enjoin a police or regulatory act of a
    governmental unit, including a criminal action or proceeding, under
    this section.
      (e) The standards, procedures, and limitations applicable to an
    injunction shall apply to relief under paragraphs (1), (2), (3),
    and (6) of subsection (a).
      (f) The exercise of rights not subject to the stay arising under
    section 362(a) pursuant to paragraph (6), (7), (17), or (27) of
    section 362(b) or pursuant to section 362(n) shall not be stayed by
    any order of a court or administrative agency in any proceeding
    under this chapter.

-SOURCE-
    (Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
    Stat. 141.)
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