Sierra Madre Bankruptcy Attorney

TITLE 11 - BANKRUPTCY
CHAPTER 15 - ANCILLARY AND OTHER CROSS-BORDER CASES
    SUBCHAPTER V - CONCURRENT PROCEEDINGS

-HEAD-
    Sec. 1531. Presumption of insolvency based on recognition of a
      foreign main proceeding

-STATUTE-
      In the absence of evidence to the contrary, recognition of a
    foreign main proceeding is, for the purpose of commencing a
    proceeding under section 303, proof that the debtor is generally
    not paying its debts as such debts become due.

-SOURCE-
    (Added Pub. L. 109-8, title VIII, Sec. 801(a), Apr. 20, 2005, 119
    Stat. 144.)