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(d) Notwithstanding almost every other provision of this segment, a circumstance will not be converted to a scenario less than A further chapter of this title Until the debtor could be a debtor under these types of chapter.
(one) to start with, to any holder of an allowed assert secured by a lien on these assets that is not avoidable beneath this title and that's senior to these kinds of tax lien;
(three) 3rd, into the holder of these tax lien, to any extent that these types of holder's permitted tax declare which is secured by these kinds of tax lien exceeds any volume distributed beneath paragraph (two) of this subsection;
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(ii) If you want to determine Particular conditions, the debtor shall be required to itemize Each and every further cost or adjustment of income and to offer—
(six) "commodity alternatives seller" means person who extends credit history to, or that accepts income, a stability, or other residence from, a buyer of these types of person for the purchase or sale of the desire inside of a commodity solution;
(d) If the worth of a especially identifiable protection, house, or commodity deal exceeds the quantity to which The shopper of your debtor is entitled less than subsection (h) or (i) of the part, then these types of buyer to whom these stability, assets, or commodity deal is my website exclusively discovered may perhaps deposit funds While using the trustee equal into the distinction between the worth of these types of stability, assets, or commodity deal and these kinds of total, as well as trustee then shall—
(thirteen) "leverage transaction" suggests arrangement that's issue to regulation under portion 19 on the Commodity Exchange Act, Which is usually recognized into the commodities trade as a margin account, margin agreement, leverage account, or leverage deal;
If the customer submits fredericksburg bankruptcy lawyers Directions pursuant to subsection (a) right after The client's commodity contracts are transferred to another commodity broker, the trustee have to transmit the instruction into the transferee.
(two) the liquidation of a securities contract entered into or carried by or throughout the debtor on behalf of the consumer.
(12) the court docket immediately after detect plus a hearing held not greater than ten times before the day with the entry from the get granting the discharge finds that there's realistic trigger to believe that—
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extra par. (seven) and struck out previous par. (seven) which read as follows: " 'securities contract' usually means contract for the acquisition, sale, or bank loan of a stability, which include an selection for the purchase or sale of a protection, certification of deposit, or team or index of securities (which include any desire therein or based on the value thereof), or any alternative entered into on the nationwide securities exchange referring to international currencies, or maybe the ensure of any settlement of cash or securities by or to some securities clearing agency;".
It truly is irrelevant if a proof of claim was filed with respect on the credit card debt, and if the claim determined by the debt was permitted.