Page:United States Statutes at Large Volume 90 Part 1.djvu/369

 PUBLIC LAW 94-260—APR. 8, 1976

9 0 STAT. 3 1 9

" (4) OTHER STATS.—The commencement or continuation of any

other act o r proceeding may be stayed, restrained, or enjoined by the court, upon notice to each person against whom such order would apply, and for cause shown. The court may issue a n order under this paragraph without requiring the i^etitioner to give security as a condition to that order. "(f)

U x E N r O R C E A B I L I T Y OF CERTAIN CONTRACTUAL PROVISIONS.

A

provision i n a contract or lease, or in any law applicable to such a contract or lease, which terminates or modifies, or permits a party other than the petitioner to terminate or modify, the contract or lease because of the insolvency of the petitioner or the commencement of a case under this chapter is not enforceaVjle if any defaults in p r i o r performance of the petitioner are cured and adequate assurance of f uture performance is provided. " (g) RECOVERY OF SET-OFF.—Any set-off which relates to a contract, debt, or obligation of the petitioner and which set-off was effected within ft?'ir months prior to the filing of the petition, is voidable and recoverable by the petitioner after hearing on notice. The court may require as a condition to recovery that the petitioner furnish adequate protection for the realization by the person against whom or which recovery is sought of the claim which arises by reason of the recovery. " (h) AVOIDING POWERS.—Sections 60a, 60c, 67a, 67d, 70c, 70e (1), and

70e(2), and the first three sentences of section 60b shall apply in cases H USC 96, 107, under this chapter as though the petitioner were the b a n k r u p t, debtor, m * or trustee. I f the petitioner refuses to pursue a cause of action under a section or sentence made applicable to this chapter by this subsection, the court may, upon the application of any creditor, appoint a trustee to pursue such cause of action. " SEC. 86. REPRESENTATION OF CREDITORS.— " (a) REPRESENTATION AND DISCLOSURE.—Any creditor nuiy act in

that creditor's own behalf or by an attorney or a dul}'authorized agent or committee. E v e r y person, not including governmental entities, representing more than one creditor shall file with the court a list of the creditors represented by such perso)i, giving the name and address of each such creditor, together with a statement of the amount, class, and character of the claim held by that creditor, and siiall attach to the list a copy of the instrument signed by the holder of such claim showing such person'.^ authority, and shall file with the list a copy of the contract or agreement entered into between such person and the creditors represented by that person. Such person shall disclose all compensation incident to the case, received or to be received, directly or indirectly, by that person. That compensation shall be subject to modification and approval by the court. " (b) M U L T I P L E COMPENSATION.—The court shall examine all of the

contracts, pi-oposals, acceptances, deposit agreements, and all other papers relating to the plan, specifically for the purpose of ascertaining if any person, not including governmental entities, promoting the plan, or doing anything of such a nature, has been or is to be compensated, directly or indirectly, by both the petitioner and any of its creditors, and shall take evidence under oath to determine whether any such compensation has occurred or is to occur. After such examination the court shall make an adjudication of this issue, and if it be found that any such compensation has occuired or is to occur, the court shall dismiss the petition and tax all of the costs against the person promoting the plan or doing any t h i n g of such a nature and receiving such

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H USC 406.

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