Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 11– REORGANIZATION

Sub Chapter IV – Railroad Reorganization

Sec. 1163. Appointment of trustee

 As soon as practicable after the order for relief the Secretary of 
Transportation shall submit a list of five disinterested persons that 
are qualified and willing to serve as trustees in the case. The United 
States trustee shall appoint one of such persons to serve as trustee in 
the case.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2641; Pub. L. 99-554, title II, 
Sec. 226, Oct. 27, 1986, 100 Stat. 3102.)


                      Historical and Revision Notes

                         legislative statements

    Section 1163 of the House amendment represents a compromise between 
the House bill and Senate amendment with respect to the appointment of a 
trustee in a railroad reorganization. As soon as practicable after the 
order for relief, the Secretary of Transportation is required to submit 
a list of five disinterested persons who are qualified to serve as 
trustee and the court will than appoint one trustee from the list to 
serve as trustee in the case.
    The House amendment deletes section 1163 of the Senate amendment in 
order to cover intrastate railroads in a case under subchapter IV of 
chapter 11. The bill does not confer jurisdiction on the Interstate 
Commerce Commission with respect to intrastate railroads.


                        senate report no. 95-989

    [Section 1166 (enacted as section 1163)] Requires the court to 
appoint a trustee in every case. Since the trustee may employ whatever 
help he needs, multiple trusteeships are unnecessary and add to the cost 
of administration. The present requirement of section 77(c)(1) [section 
205(c)(1) of former title 11] that the trustee be approved by the 
Interstate Commerce Commission is unnecessary, since the trustee will be 
selected either from the panel established under section 606(f) of title 
28, or someone certified by the Director of the Administrative Office of 
the United States Courts as qualified to become a member of that panel.


                         house report no. 95-595

    [Section 1162] This section [enacted as section 1163] requires the 
appointment of an independent trustee in a railroad reorganization case. 
The court may appoint one or more disinterested persons to serve as 
trustee in the case.


                               Amendments

    1986--Pub. L. 99-554 amended section generally, substituting 
``relief the Secretary'' for ``relief, the Secretary'' and ``The United 
States trustee shall appoint'' for ``The court shall appoint''.


                    Effective Date of 1986 Amendment

    Effective date and applicability of amendment by Pub. L. 99-554 
dependent upon the judicial district involved, see section 302(d), (e) 
of Pub. L. 99-554, set out as a note under section 581 of Title 28, 
Judiciary and Judicial Procedure.

                  Section Referred to in Other Sections

    This section is referred to in sections 322, 546, 1104 of this 
title.


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Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software