If a plan requires presentment or surrender of a security or the performance of any other act as a condition to participation in distribution under the plan, such action shall be taken not later than five years after the date of the entry of the order of confirmation. Any entity that has not within such time presented or surrendered such entity’s security or taken any such other action that the plan requires may not participate in distribution under the plan.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2639.)
Historical and Revision Notes
senate report no. 95–989Section 1143 fixes a 5-year limitation on presentment or surrender of securities or the performance of any other act that is a condition to participation in distribution under the plan. The 5 years runs from the date of the entry of the order of confirmation. Any entity that does not take the appropriate action with the 5-year period is barred from participation in the distribution under the plan.
Take Action
Your position
Add a comment
to comment on this section.
Annotate the text
Highlight any passage on the Full Text tab to attach a note. Annotations appear on the Annotations tab.