Page:United States Statutes at Large Volume 103 Part 1.djvu/561

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 533 "(11) such claim is filed in time to permit pay- ment of such claim. "(D) AUTHORITY TO DISALLOW CLAIMS. —The liquidating agent may disallow any portion of any claim by a creditor or claim of security, preference, or priority which is not proved to the satisfaction of the liquidating agent. "(E) No JUDICIAL REVIEW OF DETERMINATION PURSUANT TO SUBPARAGRAPH (D). —No court may review the Board's determination pursuant to subparagraph (D) to disallow a claim. " (F) LEGAL EFFECT OF FILING.— "(i) STATUTE OF LIMITATION TOLLED.—For purposes of any applicable statute of limitations, the filing of a claim with the liquidating agent shall constitute a commencement of an action. " (ii) NO PREJUDICE TO OTHER ACTIONS.— Subject to paragraph (12), the filing of a claim with the liquidat- ing agent shall not prejudice any right of the claimant to continue any action which was filed before the appointment of the liquidating agent. "(6) PROVISION FOR AGENCY REVIEW OR JUDICIAL DETERMINA- TION OF CLAIMS. — "(A) IN GENERAL. — Before the end of the 60-day period beginning on the earlier of— "(i) the end of the period described in paragraph (5)(A)(i) with respect to any claim against a credit union for which the Board is liquidating agent; or "(ii) the date of any notice of disallowance of such claim pursuant to paragraph (5)(A)(i), the claimant may request administrative review of the claim in accordance with subparagraph (A) or (B) of para- graph (7) or file suit on such claim (or continue an action commenced before the appointment of the liquidating agent) in the district or territorial court of the United States for the district within which the credit union's prin- cipal place of business is located or the United States District Court for the District of Columbia (and such court shall have jurisdiction to hear such claim). "(B) STATUTE OF LIMITATIONS. — If any claimant fails to— "(i) request administrative review of any claim in accordance with subparagraph (A) or (B) of paragraph (7); or "(ii) file suit on such claim (or continue an action commenced before the appointment of the liquidating agent), before the end of the 60-day period described in subpara- graph (A), the claim shall be deemed to be disallowed (other than any portion of such claim which was allowed by the liquidating agent) as of the end of such period, such dis- allowance shall be final, and the claimant shall have no further rights or remedies with respect to such claim. "(7) REVIEW OF CLAIMS.— "(A) ADMINISTRATIVE HEARING. — If any claimant requests review under this subparagraph in lieu of filing or continu- ing any action under paragraph (6) and the Board agrees to such request, the Board shall consider the claim after opportunity for a hearing on the record. The final deter-

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