Page:United States Statutes at Large Volume 119.djvu/124

 119 STAT. 106

PUBLIC LAW 109–8—APR. 20, 2005

Code, as in effect on the date of enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, or any successor to such section 7–209.’’. SEC. 407. AMENDMENTS TO SECTION 330(a) OF TITLE 11, UNITED STATES CODE.

Section 330(a) of title 11, United States Code, is amended— (1) in paragraph (3)— (A) by striking ‘‘(A) In’’ and inserting ‘‘In’’; and (B) by inserting ‘‘to an examiner, trustee under chapter 11, or professional person’’ after ‘‘awarded’’; and (2) by adding at the end the following: ‘‘(7) In determining the amount of reasonable compensation to be awarded to a trustee, the court shall treat such compensation as a commission, based on section 326.’’. SEC. 408. POSTPETITION DISCLOSURE AND SOLICITATION.

Section 1125 of title 11, United States Code, is amended by adding at the end the following: ‘‘(g) Notwithstanding subsection (b), an acceptance or rejection of the plan may be solicited from a holder of a claim or interest if such solicitation complies with applicable nonbankruptcy law and if such holder was solicited before the commencement of the case in a manner complying with applicable nonbankruptcy law.’’. SEC. 409. PREFERENCES.

Section 547(c) of title 11, United States Code, is amended— (1) by striking paragraph (2) and inserting the following: ‘‘(2) to the extent that such transfer was in payment of a debt incurred by the debtor in the ordinary course of business or financial affairs of the debtor and the transferee, and such transfer was— ‘‘(A) made in the ordinary course of business or financial affairs of the debtor and the transferee; or ‘‘(B) made according to ordinary business terms;’’; (2) in paragraph (8), by striking the period at the end and inserting ‘‘; or’’; and (3) by adding at the end the following: ‘‘(9) if, in a case filed by a debtor whose debts are not primarily consumer debts, the aggregate value of all property that constitutes or is affected by such transfer is less than $5,000.’’. SEC. 410. VENUE OF CERTAIN PROCEEDINGS.

Section 1409(b) of title 28, United States Code, is amended by inserting ‘‘, or a debt (excluding a consumer debt) against a noninsider of less than $10,000,’’ after ‘‘$5,000’’. Section 1409(b) of title 28, United States Code, is further amended by striking ‘‘$5,000’’ and inserting ‘‘$15,000’’. SEC. 411. PERIOD FOR FILING PLAN UNDER CHAPTER 11.

Section 1121(d) of title 11, United States Code, is amended— (1) by striking ‘‘On’’ and inserting ‘‘(1) Subject to paragraph (2), on’’; and (2) by adding at the end the following: ‘‘(2)(A) The 120-day period specified in paragraph (1) may not be extended beyond a date that is 18 months after the date of the order for relief under this chapter.

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