Transfer of debt: creditors must disclose assignment terms to the bankruptcy trustee and notify committee changes promptly. The regulation requires that when a creditor assigns or transfers debt during the bankruptcy process, both parties must provide the bankruptcy trustee with the assignment terms and the assignee's identity and details; the trustee must notify each creditor and the Adjudicating Authority of any consequent committee change within two days.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of debt: creditors must disclose assignment terms to the bankruptcy trustee and notify committee changes promptly.
The regulation requires that when a creditor assigns or transfers debt during the bankruptcy process, both parties must provide the bankruptcy trustee with the assignment terms and the assignee's identity and details; the trustee must notify each creditor and the Adjudicating Authority of any consequent committee change within two days.
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