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► 11 U.S.C. § 748 11 u.s.c. · liquidation · title 11
11 U.S.C. § 748
Reduction of securities to money
Title 11 USC
● ACTIVE
Ch. 7
Jurisdiction Federal — United States
Chapter LIQUIDATION
Primary Source uscode.house.gov ↗
Federation ID OM-USC11-SEC-623D05
► STATUTORY TEXT primary source · verbatim · uscode.house.gov

U.S.C. Title 11 - BANKRUPTCY 11 U.S.C. United States Code, 2023 Edition Title 11 - BANKRUPTCY CHAPTER 7 - LIQUIDATION SUBCHAPTER III - STOCKBROKER LIQUIDATION Sec. 748 - Reduction of securities to money From the U.S. Government Publishing Office, www.gpo.gov

§748. Reduction of securities to money

As soon as practicable after the date of the order for relief, the trustee shall reduce to money, consistent with good market practice, all securities held as property of the estate, except for customer name securities delivered or reclaimed under section 751 of this title.

(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2614.)

Historical and Revision Notes senate report no. 95–989 Section 748 requires the trustee to liquidate all securities, except for customer name securities, of the estate in a manner consistent with good market practice. The trustee should refrain from flooding a thin market with a large percentage of shares in any one issue. If the trustee holds restricted securities or securities in which trading has been suspended, then the trustee must arrange to liquidate such securities in accordance with the securities laws. A private placement may be the only exemption available with the customer of the debtor the best prospect for such a placement. The subsection does not permit such a customer to bid in his net equity as part of the purchase price; a contrary result would permit a customer to receive a greater percentage on his net equity claim than other customers.

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 11 U.S.C. § 748 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 11 U.S.C. § 747 11 U.S.C. § 749 →
Chapter 7 — LIQUIDATION
11 U.S.C. § 70111 U.S.C. § 70211 U.S.C. § 70311 U.S.C. § 70411 U.S.C. § 70511 U.S.C. § 70611 U.S.C. § 70711 U.S.C. § 72111 U.S.C. § 72211 U.S.C. § 72311 U.S.C. § 72411 U.S.C. § 72511 U.S.C. § 72611 U.S.C. § 72711 U.S.C. § 72811 U.S.C. § 74111 U.S.C. § 74211 U.S.C. § 74311 U.S.C. § 74411 U.S.C. § 74511 U.S.C. § 74611 U.S.C. § 74711 U.S.C. § 74811 U.S.C. § 749
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11 U.S.C.
Citation
11 U.S.C. § 748
Status
● ACTIVE
Chapter
7 — LIQUIDATION
Title
Bankruptcy
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Federal
Federation ID
OM-USC11-SEC-623D05
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Bankruptcy — 11 U.S.C. § 748