Presumption of insolvency based on recognition of a foreign main proceeding

11 U.S.C. § 1531
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
In the absence of evidence to the contrary, recognition of a foreign main proceeding is, for the purpose of commencing a proceeding under section 303, proof that the debtor is generally not paying its debts as such debts become due.

Starting a business? Corpus forms LLCs in all 50 states and DC.