Sierra Madre Bankruptcy Attorney, Bankruptcy Lawyer, Bankruptcy Code 11 USC Section 1519

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

-HEAD-
    Sec. 1519. Relief that may be granted upon filing petition for
      recognition

-STATUTE-
      (a) From the time of filing a petition for recognition until the
    court rules on the petition, the court may, at the request of the
    foreign representative, where relief is urgently needed to protect
    the assets of the debtor or the interests of the creditors, grant
    relief of a provisional nature, including - 
        (1) staying execution against the debtor's assets;
        (2) entrusting the administration or realization of all or part
      of the debtor's assets located in the United States to the
      foreign representative or another person authorized by the court,
      including an examiner, in order to protect and preserve the value
      of assets that, by their nature or because of other
      circumstances, are perishable, susceptible to devaluation or
      otherwise in jeopardy; and
        (3) any relief referred to in paragraph (3), (4), or (7) of
      section 1521(a).

      (b) Unless extended under section 1521(a)(6), the relief granted
    under this section terminates when the petition for recognition is
    granted.
      (c) It is a ground for denial of relief under this section that
    such relief would interfere with the administration of a foreign
    main 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 this section.
      (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. 140.)
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