2019 US Code
Title 11 - Bankruptcy
Chapter 11 - Reorganization
Subchapter IV - Railroad Reorganization
Sec. 1165 - Protection of the public interest
| 11 U.S.C. § 1165 (2019) |
| §1165. Protection of the public interest |
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In applying sections 1166, 1167, 1169, 1170, 1171, 1172, 1173, and 1174 of this title, the court and the trustee shall consider the public interest in addition to the interests of the debtor, creditors, and equity security holders. |
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(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2641.) |
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HISTORICAL AND REVISION NOTES
LEGISLATIVE STATEMENTS
Section 1165 of the House amendment represents a modification of sections 1165 and 1167 of the Senate amendment requiring the court and the trustee to consider the broad, general public interest in addition to the interests of the debtor, creditors, and equity security holders in applying specific sections of the subchapter. SENATE REPORT NO. 95–989Section 1165 requires the court, in consideration of the relief to be granted upon the filing of an involuntary petition, to take into account the "public interest" in the preservation of the debtor's rail service. This is an important factor in railroad reorganization, which distinguishes them from other business reorganizations. Hence, this section modifies the provisions in sections 303 and 305 that govern generally when the business of a debtor may continue to operate, when relief under the Act sought should be granted, and when the petition should be dismissed. Section 1167 [enacted as section 1165] imposes on the trustee the obligations, in addition to his other duties and responsibilities, to take into account the "public interest" in the preservation of the debtor's rail service. |
| United States Code, 2018 Edition, Supplement 1, Title 11 - BANKRUPTCY |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 11 - BANKRUPTCY CHAPTER 11 - REORGANIZATION SUBCHAPTER IV - RAILROAD REORGANIZATION Sec. 1165 - Protection of the public interest |
| section 1165 |
| 2019 |
| January 24, 2020 |
| Yes |
| standard |
| 92 Stat. 2641 |
| Public Law 95-598 |
