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11 U.S.C. § 1111 — Claims and interests

Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 1111 — Claims and interests

**(a)** A proof of claim or interest is deemed filed under [section 501 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section501&num=0&edition=prelim) for any claim or interest that appears in the schedules filed under section 521(a)(1) or 1106(a)(2) of this title, except a claim or interest that is scheduled as disputed, contingent, or unliquidated. **(b)** (1) (A) A claim secured by a lien on property of the estate shall be allowed or disallowed under [section 502 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section502&num=0&edition=prelim) the same as if the holder of such claim had recourse against the debtor on account of such claim, whether or not such holder has such recourse, unless— (i) the class of which such claim is a part elects, by at least two-thirds in amount and more than half in number of allowed claims of such class, application of paragraph (2) of this subsection; or (ii) such holder does not have such recourse and such property is sold under [section 363 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section363&num=0&edition=prelim) or is to be sold under the plan. (B) A class of claims may not elect application of paragraph (2) of this subsection if— (i) the interest on account of such claims of the holders of such claims in such property is of inconsequential value; or (ii) the holder of a claim of such class has recourse against the debtor on account of such claim and such property is sold under [section 363 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section363&num=0&edition=prelim) or is to be sold under the plan. (2) If such an election is made, then notwithstandi

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Source file: Laws/federal/codes/united-states-code/title-11/section-1111-claims-and-interests--ef11e9ba40.md
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Source location: Title 11, Chapter 11, § 1111; chapter-011-reorganization.md

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 501 — Filing of proofs of claims or interests

**(a)** A creditor or an indenture trustee may file a proof of claim. An equity security holder may file a proof of interest. **(b)** If a creditor does not timely file a proof of such creditor’s claim, an entity that is liable to such creditor with the debtor, or that has secured such creditor, may file a proof of such claim. **(c)** If a creditor does not timely file a proof of such creditor’s claim, the debtor or the trustee may file a proof of such claim. **(d)** A claim of a kind specified in section 502(e)(2), 502(f), 502(g), 502(h) or 502(i) of this title may be filed under subsection (a), (b), or (c) of this section the same as if such claim were a claim against the debtor and had arisen before the date of the filing of the petition. **(e)** A claim arising from the liability of a debtor for fuel use tax assessed consistent with the requirements of [section 31705 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section31705&num=0&edition=prelim) may be filed by the base jurisdiction designated pursuant to the International Fuel Tax Agreement (as defined in [section 31701 of title 49](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title49-section31701&num=0&edition=prelim)) and, if so filed, shall be allowed as a single claim.

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 363 — Use, sale, or lease of property

**(a)** In this section, “cash collateral” means cash, negotiable instruments, documents of title, securities, deposit accounts, or other cash equivalents whenever acquired in which the estate and an entity other than the estate have an interest and includes the proceeds, products, offspring, rents, or profits of property and the fees, charges, accounts or other payments for the use or occupancy of rooms and other public facilities in hotels, motels, or other lodging properties subject to a security interest as provided in [section 552(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section552/b&num=0&edition=prelim), whether existing before or after the commencement of a case under this title. **(b)** (1) The trustee, after notice and a hearing, may use, sell, or lease, other than in the ordinary course of business, property of the estate, except that if the debtor in connection with offering a product or a service discloses to an individual a policy prohibiting the transfer of personally identifiable information about individuals to persons that are not affiliated with the debtor and if such policy is in effect on the date of the commencement of the case, then the trustee may not sell or lease personally identifiable information to any person unless— (A) such sale or such lease is consistent with such policy; or (B) after appointment of a consumer privacy ombudsman in accordance with section 332, and after notice and a hearing, the court approves such sale or such lease— (i) giving due consideration to the facts, circumstances, and conditions of such sale or such lease; and (ii) finding that no showing was made that such sale or such lease would violate applicable nonbankruptcy law. (2) If notification is requi

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 502 — Allowance of claims or interests

**(a)** A claim or interest, proof of which is filed under [section 501 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section501&num=0&edition=prelim), is deemed allowed, unless a party in interest, including a creditor of a general partner in a partnership that is a debtor in a case under chapter 7 of this title, objects. **(b)** Except as provided in subsections (e)(2), (f), (g), (h) and (i) of this section, if such objection to a claim is made, the court, after notice and a hearing, shall determine the amount of such claim in lawful currency of the United States as of the date of the filing of the petition, and shall allow such claim in such amount, except to the extent that— (1) such claim is unenforceable against the debtor and property of the debtor, under any agreement or applicable law for a reason other than because such claim is contingent or unmatured; (2) such claim is for unmatured interest; (3) if such claim is for a tax assessed against property of the estate, such claim exceeds the value of the interest of the estate in such property; (4) if such claim is for services of an insider or attorney of the debtor, such claim exceeds the reasonable value of such services; (5) such claim is for a debt that is unmatured on the date of the filing of the petition and that is excepted from discharge under [section 523(a)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section523/a/5&num=0&edition=prelim); (6) if such claim is the claim of a lessor for damages resulting from the termination of a lease of real property, such claim exceeds— (A) the rent reserved by such lease, without acceleration, for the greater of one year, or 15 percent, not to exceed three years, of the remainin

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 925 — Effect of list of claims

A proof of claim is deemed filed under [section 501 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section501&num=0&edition=prelim) for any claim that appears in the list filed under [section 924 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section924&num=0&edition=prelim), except a claim that is listed as disputed, contingent, or unliquidated.

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Federal law — U.S. Code and appendices · legal_authorities

11 U.S.C. § 1111 — Claims and interests

Page 249 TITLE 11—BANKRUPTCY § 1112 ‘‘SEC. 2. TREATMENT OF AIRCRAFT EQUIPMENT SETTLEMENT LEASES WITH THE PENSION BENEFIT GUARANTY CORPORATION. ‘‘In the case of any settlement of liability under title IV of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1301 et seq.] entered into by the Pension Benefit Guaranty Corporation and one or more other parties, if— ‘‘(1) such settlement was entered into before, on, or after the date of the enactment of this Act [Mar. 17, 1993], ‘‘(2) at least one party to such settlement was a debtor under title 11 of the United States Code, and ‘‘(3) an agreement that is entered into as part of such settlement provides that such agreement is to be treated as a lease, then such agreement shall be treated as a lease for pur- poses of section 1110 of such title 11.’’ § 1111. Claims and interests (a) A proof of claim or interest is deemed filed under section 501 of this title for any claim or interest that appears in the schedules filed under section 521(a)(1) or 1106(a)(2) of this title, except a claim or interest that is scheduled as disputed, contingent, or unliquidated. (b)(1)(A) A claim secured by a lien on property of the estate shall be allowed or disallowed under section 502 of this title the same as if the holder of such claim had recourse against the debtor on account of such claim, whether or not such holder has such recourse, unless— (i) the class of which such claim is a part elects, by at least two-thirds in amount and more than half in number of allowed claims of such class, application of paragraph (2) of this subsection; or (ii) such holder does not have such recourse and such property is sold under section 363 of this title or is to be sold under the plan. (B) A class of claims may

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