Page:United States Statutes at Large Volume 92 Part 2.djvu/1362

 92 STAT. 2642

PUBLIC LAW 95-598—NOV. 6, 1978

11 USC 1166.

§ 1166. Effect of Interstate Commerce Act and of Federal, State, or local regulations Except with respect to abandonment under section llTO of this title, or merger, modification of the financial structure of the debtor, or issuance or sale of securities under a plan, the trustee and the debtor are subject to the provisions of the Interstate Commerce Act (49 U.S.C. 1 et seq.) that are applicable to railroads, and the trustee is subject to orders of any Federal, State, or local regulatory body to the same extent as the debtor would be if a petition commencing the case under this chapter had not been filed, but— (1) any such order that would require the expenditure, or the incurring of an obligation for the expenditure, of money from the estate is not effective unless approved by the court; and (2) the provisions of this chapter are subject to section 601(b) of the Kegional Rail Reorganization Act of 1973 (45 U.S.C. 791(b)).

11 USC 1167. Ante, p. 2574.

§ 1167. Collective bargaining agreements Notwithstanding section 365 of this title, neither the court nor the trustee may change the wages or working conditions of employees of the debtor established by a collective bargaining agreement that is subject to the Railway Labor Act (45 U.S.C. 151 et seq.) except in accordance with section 6 of such Act (45 U.S.C. 156). § 1168. Rolling stock equipment (a) The right of a secured party with a purchase-money equipment security interest in, or of a lessor or conditional vendor of, whether as trustee or otherwise, rolling stock equipment or accessories used on such equipment, including superstructures and racks, that are subject to a purchase-money equipment security interest granted by, leased to, or conditionally sold to, the debtor to take possession of such equipment in compliance with the provisions of a purchase-money equipment security agreement, lease, or conditional sale contract, as the case may be, is not affected by section 362 or 363 of this title or by any power of the court to enjoin such taking of possession, unless— (1) before 60 days after the date of the commencement of a case under this chapter, the trustee, subject to the court's approval, agrees to perform all obligations of the debtor under such security agreement, lease, or conditional sale contract, as the case may be; and (2) any default, other than a default of a kind specified in section 365(b)(2) of this title, under such security agreement, lease, or conditional sale contract, as the case may be— (A) that occurred before such date and is an event of default therewith is cured before the expiration of such 60-day period; and (B) that occurs or becomes an event of default after such date is cured before the later of— (i) 30 days after the date of such default or event of default; and (ii) the expiration of such 60-day period. (b) The trustee and the secured party, lessor, or conditional vendor, as the case may be, whose right to take possession is protected under subsection (a) of this section, may agree, subject to the court's approval to extend the 60-day period specified in subsection (a)(1) of this section.

11 USC 1168.

Ante, pp. 2570, 2572.

Ante, p. 2574.

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