#aac? ,,congress  #b;d ,session  ,h4 ,r4
 #edba  ,,an ,,act  ,to am5d title #aa (
 ! ,unit$ ,/ates ,code 9 ord] to        
facilitate ! resolution ( an insolv5t   
f9ancial in/itution 9 bankruptcy4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,f9ancial ,in/itution ,bankruptcy ,act (
 #bjad4  #b4 ,g5]al provisions relat+ to
 cov]$ f9ancial corporations  7a7       
,def9ition ,section #aja ( title #aa1   
,unit$ ,/ates ,code1 is am5d$ by ins]t+ 
! foll[+ aft] p>agraph 7#i73  7#i;,a7 ,!
 t]m cov]$ f9ancial corporation means   
any corporation incorporat$ or organiz$ 
"u any ,f$]al or ,/ate law1 o!r ?an a   
/ockbrok]1 a commodity brok]1 or an     
entity ( ! k9d specifi$ 9 p>agraph 7#b7 
or 7#c7 ( section #aji7;b71 t is--  7,a7
 a bank hold+ company1 z def9$ 9 section
 #b7;a7 ( ! ,bank ,hold+ ,company ,act (
 #aief2 or  7,b7 a corporation t exi/s =
 ! prim>y purpose ( own+1 controll+ &   
f9anc+ its subsidi>ies1 t has total     
consolidat$ assets ( #ej1jjj1jjj1jjj or 
great]1 & = :i*1 9 its mo/ rec5tly      

complet$ fiscal ye>--  7i7 annual gross 
rev5ues d]iv$ by ! corporation & all (  
its subsidi>ies f activities t are      
f9ancial 9 nature 7z def9$ 9 section    
#d7k7 ( ! ,bank ,hold+ ,company ,act (  
#aief7 &1 if applicable1 f ! own]%ip or 
control ( "o or m insur$ depository     
in/itutions1 repres5ts #he p]c5t or m ( 
! consolidat$ annual gross rev5ues ( !  
corporation2 or  7ii7 ! consolidat$     
assets ( ! corporation & all ( its      
subsidi>ies relat$ to activities t are  
f9ancial 9 nature 7z def9$ 9 section    
#d7k7 ( ! ,bank ,hold+ ,company ,act (  
#aief7 &1 if applicable1 relat$ to !    
own]%ip or control ( "o or m insur$     
depository in/itutions1 repres5ts #he   
p]c5t or m ( ! consolidat$ assets ( !   
corporation4  4  7b7 ,applicability (   
*apt]s ,section #ajc ( title #aa1 ,unit$
 ,/ates ,code1 is am5d$ by add+ at ! end
 ! foll[+3  7l7 ,sub*apt] ,v ( *apt] #aa
 ( ?is title applies only 9 a case "u   
*apt] #aa conc]n+ a cov]$ f9ancial      
corporation4  4  7c7 ,:o may be a debtor

 ,section #aji ( title #aa1 ,unit$      
,/ates ,code1 is am5d$--  7#a7 9        
subsection 7b7--  7,a7 9 p>agraph 7#b71 
by /rik+ or at ! end2  7,b7 9 p>agraph  
7#c77;,b71 by /rik+ ! p]iod at ! end &  
ins]t+ 2 or2 &  7,c7 by add+ at ! end ! 
foll[+3  7#d7 a cov]$ f9ancial          
corporation4  2 &  7#b7 9 subsection    
7d7--  7,a7 by /rik+ & be=e an un9sur$  
,/ate memb] bank2  7,b7 by /rik+ or be=e
 a corporation2 &  7,c7 by ins]t+ 1 or a
 cov]$ f9ancial corporation aft] ,f$]al 
,deposit ,insurance ,corporation        
,improvem5t ,act ( #aiia4  7d7          
,conv]sion to *apt] #g ,section #aaab ( 
title #aa1 ,unit$ ,/ates ,code1 is am5d$
 by add+ at ! end ! foll[+3  7g7        
,not)/&+ section #aji7;b71 ! c\rt may   
conv]t a case "u sub*apt] ,v to a case  
"u *apt] #g if--  7#a7 a transf] approv$
 "u section #aahe has be5 consummat$2   
7#b7 ! c\rt has ord]$ ! appo9tm5t ( a   
special tru/ee "u section #aahf2 &  7#c7
 ! c\rt f9ds1 aft] notice & a he>+1 t   
conv]sion is 9 ! be/ int]e/ ( ! cr$itors

 & ! e/ate4  4  7e7  7#a7 ,section      
#gbf7;a77#a7 ( title #aa1 ,unit$ ,/ates 
,code1 is am5d$ by ins]t+ aft] fir/1 !  
foll[+3 9 paym5t ( any unpaid fees1     
co/s1 & exp5ses ( a special tru/ee      
appo9t$ "u section #aahf1 & !n4  7#b7   
,section #aabi7;a7 ( title #aa1 ,unit$  
,/ates ,code1 is am5d$ by ins]t+ aft]   
p>agraph 7#af7 ! foll[+3  7#ag7 ,9 a    
case "u sub*apt] ,v1 all payable fees1  
co/s1 & exp5ses ( ! special tru/ee h be5
 paid or ! plan provides = ! paym5t (   
all su* fees1 co/s1 & exp5ses on !      
effective date ( ! plan4  7#ah7 ,9 a    
case "u sub*apt] ,v1 confirmation ( !   
plan is n likely to cause s]i\s adv]se  
effects on f9ancial /ability 9 ! ,unit$ 
,/ates4  4  7f7 ,section #cbb7;b77#b7 ( 
title #aa1 ,unit$ ,/ates ,code1 is am5d$
 by /rik+ ,! & ins]t+ ,9 cases "u       
sub*apt] ,v1 ! ,unit$ ,/ates tru/ee %all
 recomm5d to ! c\rt1 & 9 all o!r cases1 
!4  #c4 ,liquidation1 reorganization1 or
 recapitalization ( a cov]$ f9ancial    
corporation ,*apt] #aa ( title #aa1     

,unit$ ,/ates ,code1 is am5d$ by add+ at
 ! end ! foll[+3  ,v ,liquidation1      
,reorganization1 or ,recapitalization ( 
a ,cov]$ ,f9ancial ,corporation  #aaha4 
,inapplicability ( o!r sections         
,sections #cjc & #cba7;c7 d n apply 9 a 
case "u ?is sub*apt] conc]n+ a cov]$    
f9ancial corporation4  #aahb4           
,def9itions = ?is sub*apt] ,9 ?is       
sub*apt]1 ! foll[+ def9itions %all      
apply3  7#a7 ,! t]m ,bo>d means ! ,bo>d 
( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em4  
7#b7 ,! t]m bridge company means a newly
 =m$ corporation to :i* prop]ty ( !     
e/ate may be transf]r$ "u section       
#aahe7;a7 & ! equity securities ( :i*   
may be transf]r$ to a special tru/ee "u 
section #aahf7;a74  7#c7 ,! t]m capital 
/ructure debt means all unsecur$ debt ( 
! debtor = borr[$ money = :i* ! debtor  
is ! prim>y obligor1 o!r ?an a qualifi$ 
f9ancial contract & o!r ?an debt secur$ 
by a li5 on prop]ty ( ! e/ate t is to be
 transf]r$ to a bridge company pursuant 
to an ord] ( ! c\rt "u section          

#aahe7;a74  7#d7 ,! t]m contractual "r  
means a contractual "r ( a k9d def9$ 9  
section #eee1 #eef1 #eei1 #efj1 or #efa4
  7#e7 ,! t]m qualifi$ f9ancial contract
 means any contract ( a k9d def9$ 9     
p>agraph 7#be71 7#ch;,a71 7#dg71 or     
7#ec;,b7 ( section #aja1 section        
#gda7g71 or p>agraph 7#d71 7#e71 7#aa71 
or 7#ac7 ( section #gfa4  7#f7 ,! t]m   
special tru/ee means ! tru/ee ( a tru/  
=m$ "u section #aahf7;a77#a74  #aahc4   
,comm5cem5t ( a case conc]n+ a cov]$    
f9ancial corporation  7a7 ,a case "u ?is
 sub*apt] conc]n+ a cov]$ f9ancial      
corporation may be comm5c$ by ! fil+ ( a
 petition ) ! c\rt--  7#a7 by ! debtor  
"u section #cja only if ! debtor /ates  
to ! be/ ( its k "u p5alty ( p]jury 9 ! 
petition t x is a cov]$ f9ancial        
corporation2 or  7#b7 by ! ,bo>d only if
 ! ,bo>d /ates to ! be/ ( its k "u      
p5alty ( p]jury 9 ! petition t--  7,a7 !
 debtor is a cov]$ f9ancial corporation 
t--  7i7 has incurr$ losses t w deplete 
all or sub/antially all ( ! capital ( ! 

cov]$ f9ancial corporation1 & !re is no 
reasonable prospect = ! cov]$ f9ancial  
corporation to avoid su* depletion2     
7ii7 is insolv5t2  7iii7 is n pay+1 or  
is unable to pay1 ! debts ( ! cov]$     
f9ancial corporation 7o!r ?an debts     
subject to a bona fide dispute z to     
liability or am\nt7 z !y become due2 or 
7iv7 is likely to be 9 a f9ancial       
condition specifi$ 9 clause 7i71 7ii71  
or 7iii7 suffici5tly soon su* t !       
imm$iate comm5cem5t ( a case "u ?is     
sub*apt] is necess>y to prev5t s]i\s    
adv]se effects on f9ancial /ability 9 ! 
,unit$ ,/ates2 &  7,b7 ! comm5cem5t ( a 
case "u ?is title & effect+ a transf] "u
 section #aahe is necess>y to prev5t    
s]i\s adv]se effects on f9ancial        
/ability 9 ! ,unit$ ,/ates4  7b7  7#a7  
,unless ! debtor cons5ts to an ord] =   
relief1 ! c\rt %all hold a he>+ on !    
,bo>d's petition "u subsection 7a77#b7 z
 soon z practicable b n lat] ?an #af    
h\rs aft] ! ,bo>d files su* a petition1 
) notice only to--  7,a7 ! cov]$        

f9ancial corporation2  7,b7 ! ,f$]al    
,deposit ,insurance ,corporation2  7,c7 
! ,(fice ( ! ,comptroll] ( ! ,curr5cy ( 
! ,dep>tm5t ( ! ,treasury2 &  7,d7 !    
,secret>y ( ! ,treasury4  7#b7 ,only !  
,bo>d & ! entities specifi$ 9 p>agraph  
7#a7 & _! c\nsel may p>ticipate 9 a he>+
 describ$ 9 ?is subsection4 ,! ,bo>d or 
! tru/ee may reque/ t plead+s1 he>+s1   
transcripts1 & ord]s 9 connection ) a   
he>+ describ$ 9 ?is subsection be seal$ 
if _! disclosure c\ld create f9ancial   
in/ability 9 ! ,unit$ ,/ates4  7#c7 ,all
 plead+s1 he>+s1 transcripts1 & ord]s   
seal$ "u p>agraph 7#b7 %all be available
 to only ! c\rt1 ! appellate panel1 !   
cov]$ f9ancial corporation1 ! ,f$]al    
,deposit ,insurance ,corporation1 !     
,(fice ( ! ,comptroll] ( ! ,curr5cy ( ! 
,dep>tm5t ( ! ,treasury1 ! ,secret>y ( !
 ,treasury1 & ! ,bo>d4 ,not)/&+ p>agraph
 7#b71 if ! case is dismiss$1 all c\rt  
docum5ts1 includ+ plead+s1 he>+s1       
transcripts1 & ord]s1 %all be p]man5tly 
seal$4  7c7  7#a7 ,! comm5cem5t ( a case

 "u subsection 7a77#a7 con/itutes an    
ord] = relief "u ?is sub*apt]4  7#b7 ,9 
a case comm5c$ "u subsection 7a77#b71   
aft] notice & he>+ requir$ "u subsection
 7b7 & n lat] ?an #ah h\rs aft] ! fil+ (
 ! ,bo>d's petition1 ! c\rt %all ent]-- 
7,a7 an ord] = relief--  7i7 if ! ,bo>d 
has %[n at ! he>+ "u ?is subsection t ! 
requirem5ts "u subsection 7a77#b7 are   
support$ by a prepond]ance ( ! evid5ce2 
or  7ii7 if ! debtor cons5ts to !       
,bo>d's petition "u subsection 7a77#b72 
or  7,b7 an ord] dismiss+ ! case4  7d7  
7#a7 ,! cov]$ f9ancial corporation or ! 
,bo>d may appeal to ! c\rt ( appeals f  
an ord] ent]$ by ! c\rt "u subsection   
7c77#b7 n lat] ?an #a h\r aft] ! c\rt   
ent]s su* ord]1 ) notice only to !      
entities specifi$ 9 subsection 7b77#a7 &
 ! ,bo>d4 ,su* ord] %all be /ay$ p5d+   
su* appeal4  7#b7 ,! appellate panel    
specifi$ "u section #bih7;c77#a7 ( title
 #bh = ! judicial circuit 9 :i* ! case  
is p5d+ %all he> ! appeal "u p>agraph   
7#a7 )9 #ab h\rs ( ! fil+ ( ! notice (  

appeal "u ?is subsection4 ,! /&>d (     
review %all be abuse ( discretion4 ,!   
appellate panel %all ent] an ord]       
det]m9+ ! matt] t is ! subject ( !      
appeal n lat] ?an #ad h\rs aft] ! notice
 ( appeal is fil$4  7#c7 ,! c\rt may n1 
on acc\nt ( an appeal f an ord] = relief
 "u section #aahc7;d77#a71 delay any    
proce$+ "u section #aahe1 except t !    
c\rt %all n au?orize a transf] "u       
section #aahe be=e ! det]m9ation ( !    
appeal4  7e7 ,! memb]s ( ! bo>d (       
directors 7or body p]=m+ simil>         
functions7 ( a cov]$ f9ancial company   
%all h no liability to %>ehold]s1       
cr$itors or o!r p>ties 9 int]e/ = a good
 fai? fil+ or cons5t+ 9 good fai? to a  
petition ) respect to a case "u ?is     
sub*apt]1 or = any reasonable action    
tak5 9 good fai? 9 contemplation ( or 9 
connection ) su* a petition or a transf]
 "u section #aahe or section #aahf1 :e!r
 prior to or aft] comm5cem5t ( ! case4  
7f7 ,c\nsel to ! debtor or ! ,bo>d %all 
provide1 to ! greate/ ext5t practicable1

 suffici5t confid5tial notice to !      
,(fice ( ,c\rt ,s]vices ( !             
,adm9i/rative ,(fice ( ! ,unit$ ,/ates  
,c\rts reg>d+ ! pot5tial comm5cem5t ( a 
sub*apt] ,v case )\t disclos+ ! id5tity 
( ! pot5tial debtor 9 ord] to all[ su*  
(fice to r&omly designate & ensure !    
ready availability ( "o ( ! bankruptcy  
judges designat$ "u section #bih7;b77#a7
 ( title #bh to be available to preside 
ov] su* sub*apt] ,v case4  #aahd4       
,regulators ,! ,bo>d1 ! ,securities     
,ex*ange ,commission1 ! ,(fice ( !      
,comptroll] ( ! ,curr5cy ( ! ,dep>tm5t (
 ! ,treasury1 & ! ,f$]al ,deposit       
,insurance ,corporation may raise & may 
appe> & be he>d on any issue 9 any case 
or proce$+ "u ?is sub*apt]4  #aahe4     
,special transf] ( prop]ty ( ! e/ate    
7a7 ,on reque/ ( ! tru/ee or ! ,bo>d1 & 
aft] notice & a he>+ t %all occur n less
 ?an #bd h\rs aft] ! ord] = relief1 !   
c\rt may ord] a transf] "u ?is section (
 prop]ty ( ! e/ate1 & ! assignm5t (     
executory contracts1 unexpir$ leases1 & 

qualifi$ f9ancial contracts ( ! debtor1 
to a bridge company4 ,^u ! entry ( an   
ord] approv+ su* transf]1 any prop]ty   
transf]r$1 & any executory contracts1   
unexpir$ leases1 & qualifi$ f9ancial    
contracts assign$ "u su* ord] %all no   
long] be prop]ty ( ! e/ate4 ,except z   
provid$ "u ?is section1 ! provisions (  
sections #cfc & #cfe %all apply to a    
transf] & assignm5t "u ?is section4  7b7
 ,unless ! c\rt ord]s o!rwise1 notice ( 
a reque/ = an ord] "u subsection 7a7    
%all consi/ ( electronic or telephonic  
notice ( n less ?an #bd h\rs to--  7#a7 
! debtor2  7#b7 ! hold]s ( ! #bj l>ge/  
secur$ claims aga9/ ! debtor2  7#c7 !   
hold]s ( ! #bj l>ge/ unsecur$ claims    
aga9/ ! debtor2  7#d7 c\nt]p>ties to any
 debt1 executory contract1 unexpir$     
lease1 & qualifi$ f9ancial contract     
reque/$ to be transf]r$ "u ?is section2 
7#e7 ! ,bo>d2  7#f7 ! ,f$]al ,deposit   
,insurance ,corporation2  7#g7 !        
,secret>y ( ! ,treasury & ! ,(fice ( !  
,comptroll] ( ! ,curr5cy ( ! ,treasury2 

7#h7 ! ,securities & ,ex*ange           
,commission2  7#i7 ! ,unit$ ,/ates      
tru/ee or bankruptcy adm9i/rator2 &     
7#aj7 ea* prim>y f9ancial regulatory    
ag5cy1 z def9$ 9 section #b7ab7 ( !     
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act1 ) respect to 
any affiliate ! equity securities ( :i* 
are propos$ to be transf]r$ "u ?is      
section4  7c7 ,! c\rt may n ord] a      
transf] "u ?is section unless ! c\rt    
det]m9es1 bas$ ^u a prepond]ance ( !    
evid5ce1 t--  7#a7 ! transf] "u ?is     
section is necess>y to prev5t s]i\s     
adv]se effects on f9ancial /ability 9 ! 
,unit$ ,/ates2  7#b7 ! transf] does n   
provide = ! assumption ( any capital    
/ructure debt by ! bridge company2  7#c7
 ! transf] does n provide = ! transf] to
 ! bridge company ( any prop]ty ( !     
e/ate t is subject to a li5 secur+ a    
debt1 executory contract1 unexpir$ lease
 or agreem5t ( ! debtor unless--  7,a7  
7i7 ! bridge company assumes su* debt1  
executory contract1 unexpir$ lease or   

agreem5t1 includ+ any claims aris+ 9    
respect !re( t w\ld n be all[$ secur$   
claims "u section #ejf7;a77#a7 & aft]   
giv+ effect to su* transf]1 su* prop]ty 
rema9s subject to ! li5 secur+ su* debt1
 executory contract1 unexpir$ lease or  
agreem5t2 &  7ii7 ! c\rt has det]m9$ t  
assumption ( su* debt1 executory        
contract1 unexpir$ lease or agreem5t by 
! bridge company is 9 ! be/ int]e/s ( ! 
e/ate2 or  7,b7 su* prop]ty is be+      
transf]r$ to ! bridge company 9         
accordance ) ! provisions ( section     
#cfc2  7#d7 ! transf] does n provide = !
 assumption by ! bridge company ( any   
debt1 executory contract1 unexpir$ lease
 or agreem5t ( ! debtor secur$ by a li5 
on prop]ty 9 :i* ! e/ate has an int]e/  
unless ! transf] provides = su* prop]ty 
to be transf]r$ to ! bridge company 9   
accordance ) p>agraph 7#c77;,a7 ( ?is   
subsection2  7#e7 ! transf] does n      
provide = ! transf] ( ! equity ( !      
debtor2  7#f7 ! p>ty reque/+ ! transf]  
"u ?is subsection has demon/rat$ t !    

bridge company is n likely to fail to   
meet ! obligations ( any debt1 executory
 contract1 qualifi$ f9ancial contract1  
or unexpir$ lease assum$ & assign$ to ! 
bridge company2  7#g7 ! transf] provides
 = ! transf] to a special tru/ee all ( !
 equity securities 9 ! bridge company & 
appo9tm5t ( a special tru/ee 9          
accordance ) section #aahf2  7#h7 aft]  
giv+ effect to ! transf]1 adequate      
provision has be5 made = ! fees1 co/s1 &
 exp5ses ( ! e/ate & special tru/ee2 &  
7#i7 ! bridge company w h gov]n+        
docum5ts1 & initial directors & s5ior   
(fic]s1 t are 9 ! be/ int]e/ ( cr$itors 
& ! e/ate4  7d7 ,imm$iately be=e a      
transf] "u ! section1 ! bridge company t
 is ! recipi5t ( ! transf] %all--  7#a7 
n h any prop]ty1 executory contracts1   
unexpir$ leases1 or debts1 o!r ?an any  
prop]ty acquir$ or executory contracts1 
unexpir$ leases1 or debts assum$ :5 act+
 z a transf]ee ( a transf] "u ?is       
section2 &  7#b7 h equity securities t  
are prop]ty ( ! e/ate1 :i* may be sold  

or di/ribut$ 9 accordance ) ?is title4  
#aahf4 ,special tru/ee  7a7  7#a7 ,an   
ord] approv+ a transf] "u section #aahe 
%all require ! tru/ee to transf] to a   
qualifi$ & indep5d5t special tru/ee1 :o 
is appo9t$ by ! c\rt1 all ( ! equity    
securities 9 ! bridge company t is !    
recipi5t ( a transf] "u section #aahe to
 hold 9 tru/ = ! sole b5efit ( ! e/ate1 
subject to satisfaction ( ! special     
tru/ee's fees1 co/s1 & exp5ses4 ,! tru/ 
( :i* ! special tru/ee is ! tru/ee %all 
be a newly =m$ tru/ gov]n$ by a tru/    
agreem5t approv$ by ! c\rt z 9 ! be/    
int]e/s ( ! e/ate1 & %all exi/ = ! sole 
purpose ( hold+ & adm9i/]+1 & %all be   
p]mitt$ to dispose (1 ! equity          
securities ( ! bridge company 9         
accordance ) ! tru/ agreem5t4  7#b7 ,9  
connection ) ! he>+ to approve a transf]
 "u section #aahe1 ! tru/ee %all confirm
 to ! c\rt t ! ,bo>d has be5 consult$   
reg>d+ ! id5tity ( ! propos$ special    
tru/ee & advise ! c\rt ( ! results ( su*
 consultation4  7b7 ,! tru/ agreem5t    

gov]n+ ! tru/ %all provide--  7#a7 = !  
paym5t ( ! fees1 co/s1 exp5ses1 &       
indemnities ( ! special tru/ee f !      
assets ( ! debtor's e/ate2  7#b7 t !    
special tru/ee provide--  7,a7 qu>t]ly  
report+ to ! e/ate1 :i* %all be fil$ ) !
 c\rt2 &  7,b7 in=mation ab\t ! bridge  
company reasonably reque/$ by a p>ty 9  
int]e/ to prep>e a disclosure /atem5t = 
a plan provid+ = di/ribution ( any      
securities ( ! bridge company if su*    
in=mation is necess>y to prep>e su*     
disclosure /atem5t2  7#c7 t = z long z !
 equity securities ( ! bridge company   
are held by ! tru/1 ! special tru/ee    
%all file a notice ) ! c\rt 9 connection
 )--  7,a7 any *ange 9 a director or    
s5ior (fic] ( ! bridge company2  7,b7   
any modification to ! gov]n+ docum5ts ( 
! bridge company2 &  7,c7 any mat]ial   
corporate action ( ! bridge company1    
includ+--  7i7 recapitalization2  7ii7 a
 mat]ial borr[+2  7iii7 t]m9ation ( an  
int]company debt or gu>antee2  7iv7 a   
transf] ( a sub/antial portion ( !      

assets ( ! bridge company2 or  7v7 !    
issuance or sale ( any securities ( !   
bridge company2  7#d7 t any sale ( any  
equity securities ( ! bridge company    
%all n be consummat$ until ! special    
tru/ee consults ) ! ,f$]al ,deposit     
,insurance ,corporation & ! ,bo>d reg>d+
 su* sale & discloses ! results ( su*   
consultation ) ! c\rt2  7#e7 t1 subject 
to res]ves = paym5ts p]mitt$ "u p>agraph
 7#a7 provid$ = 9 ! tru/ agreem5t1 !    
proce$s ( ! sale ( any equity securities
 ( ! bridge company by ! special tru/ee 
be held 9 tru/ = ! b5efit ( or transf]r$
 to ! e/ate2  7#f7 ! process & guidel9es
 = ! replacem5t ( ! special tru/ee2 &   
7#g7 t ! prop]ty held 9 tru/ by !       
special tru/ee is subject to di/ribution
 9 accordance ) subsection 7c74  7c7    
7#a7 ,! special tru/ee %all di/ribute ! 
assets held 9 tru/--  7,a7 if ! c\rt    
confirms a plan 9 ! case1 9 accordance )
 ! plan on ! effective date ( ! plan2 or
  7,b7 if ! case is conv]t$ to a case "u
 *apt] #g1 z ord]$ by ! c\rt4  7#b7 ,z  

soon z practicable aft] a f9al          
di/ribution "u p>agraph 7#a71 ! (fice ( 
! special tru/ee %all t]m9ate1 except z 
may be necess>y to w9d up & conclude !  
bus9ess & f9ancial affairs ( ! tru/4    
7d7 ,aft] a transf] to ! special tru/ee 
"u ?is section1 ! special tru/ee %all be
 subject only to applicable             
nonbankruptcy law1 & ! actions & conduct
 ( ! special tru/ee %all no long] be    
subject to approval by ! c\rt 9 ! case  
"u ?is sub*apt]4  #aahg4 ,tempor>y &    
supplem5tal automatic /ay2 assum$ debt  
7a7  7#a7 ,a petition fil$ "u section   
#aahc op]ates z a /ay1 applicable to all
 entities1 ( ! t]m9ation1 accel]ation1  
or modification ( any debt1 contract1   
lease1 or agreem5t ( ! k9d describ$ 9   
p>agraph 7#b71 or ( any "r or obligation
 "u any su* debt1 contract1 lease1 or   
agreem5t1 solely because (--  7,a7 a    
default by ! debtor "u any su* debt1    
contract1 lease1 or agreem5t2 or  7,b7 a
 provision 9 su* debt1 contract1 lease1 
or agreem5t1 or 9 applicable            

nonbankruptcy law1 t is condition$ on-- 
7i7 ! insolv5cy or f9ancial condition ( 
! debtor at any "t be=e ! clos+ ( !     
case2  7ii7 ! comm5cem5t ( a case "u ?is
 title conc]n+ ! debtor2  7iii7 !       
appo9tm5t ( or tak+ possession by a     
tru/ee 9 a case "u ?is title conc]n+ !  
debtor or by a cu/odian be=e !          
comm5cem5t ( ! case2 or  7iv7 a cr$it   
rat+ ag5cy rat+1 or abs5ce or )drawal ( 
a cr$it rat+ ag5cy rat+--  7,i7 ( !     
debtor at any "t aft] ! comm5cem5t ( !  
case2  7,,ii7 ( an affiliate dur+ !     
p]iod f ! comm5cem5t ( ! case until #dh 
h\rs aft] su* ord] is ent]$2  7,,iii7 ( 
! bridge company :ile ! tru/ee or !     
special tru/ee is a direct or indirect  
b5eficial hold] ( m ?an #ej p]c5t ( !   
equity securities (--  7aa7 ! bridge    
company2 or  7bb7 ! affiliate1 if all ( 
! direct or indirect int]e/s 9 !        
affiliate t are prop]ty ( ! e/ate are   
transf]r$ "u section #aahe2 or  7,,iv7 (
 an affiliate :ile ! tru/ee or ! special
 tru/ee is a direct or indirect         

b5eficial hold] ( m ?an #ej p]c5t ( !   
equity securities (--  7aa7 ! bridge    
company2 or  7bb7 ! affiliate1 if all ( 
! direct or indirect int]e/s 9 !        
affiliate t are prop]ty ( ! e/ate are   
transf]r$ "u section #aahe4  7#b7 ,a    
debt1 contract1 lease1 or agreem5t      
describ$ 9 ?is p>agraph is--  7,a7 any  
debt 7o!r ?an capital /ructure debt71   
executory contract1 or unexpir$ lease ( 
! debtor 7o!r ?an a qualifi$ f9ancial   
contract72  7,b7 any agreem5t "u :i* !  
debtor issu$ or is obligat$ = debt 7o!r 
?an capital /ructure debt72  7,c7 any   
debt1 executory contract1 or unexpir$   
lease ( an affiliate 7o!r ?an a qualifi$
 f9ancial contract72 or  7,d7 any       
agreem5t "u :i* an affiliate issu$ or is
 obligat$ = debt4  7#c7 ,! /ay "u ?is   
subsection t]m9ates--  7,a7 = ! b5efit (
 ! debtor1 ^u ! e>lie/ (--  7i7 #dh h\rs
 aft] ! comm5cem5t ( ! case2  7ii7      
assumption ( ! debt1 contract1 lease1 or
 agreem5t by ! bridge company "u an ord]
 au?oriz+ a transf] "u section #aahe2   

7iii7 a f9al ord] ( ! c\rt d5y+ ! reque/
 = a transf] "u section #aahe2 or  7iv7 
! "t ! case is dismiss$2 &  7,b7 = !    
b5efit ( an affiliate1 ^u ! e>lie/ (--  
7i7 ! entry ( an ord] au?oriz+ a transf]
 "u section #aahe 9 :i* ! direct or     
indirect int]e/s 9 ! affiliate t are    
prop]ty ( ! e/ate are n transf]r$ "u    
section #aahe2  7ii7 a f9al ord] by !   
c\rt d5y+ ! reque/ = a transf] "u       
section #aahe2  7iii7 #dh h\rs aft] !   
comm5cem5t ( ! case if ! c\rt has n     
ord]$ a transf] "u section #aahe2 or    
7iv7 ! "t ! case is dismiss$4  7#d7     
,subsections 7d71 7e71 7f71 & 7g7 (     
section #cfb apply to a /ay "u ?is      
subsection4  7b7 ,a debt1 executory     
contract 7o!r ?an a qualifi$ f9ancial   
contract71 or unexpir$ lease ( ! debtor1
 or an agreem5t "u :i* ! debtor has     
issu$ or is obligat$ = any debt1 may be 
assum$ by a bridge company 9 a transf]  
"u section #aahe not)/&+ any provision 9
 an agreem5t or 9 applicable            
nonbankruptcy law t--  7#a7 prohibits1  

re/ricts1 or conditions ! assignm5t ( ! 
debt1 contract1 lease1 or agreem5t2 or  
7#b7 accel]ates1 t]m9ates1 or modifies1 
or p]mits a p>ty o!r ?an ! debtor to    
t]m9ate or modify1 ! debt1 contract1    
lease1 or agreem5t on acc\nt (--  7,a7 !
 assignm5t ( ! debt1 contract1 lease1 or
 agreem5t2 or  7,b7 a *ange 9 control ( 
any p>ty to ! debt1 contract1 lease1 or 
agreem5t4  7c7  7#a7 ,a debt1 contract1 
lease1 or agreem5t ( ! k9d describ$ 9   
subp>agraph 7,a7 or 7,b7 ( subsection   
7a77#b7 may n be accel]at$1 t]m9at$1 or 
modifi$1 & any "r or obligation "u su*  
debt1 contract1 lease1 or agreem5t may n
 be accel]at$1 t]m9at$1 or modifi$1 z to
 ! bridge company solely because ( a    
provision 9 ! debt1 contract1 lease1 or 
agreem5t or 9 applicable nonbankruptcy  
law--  7,a7 ( ! k9d describ$ 9          
subsection 7a77#a77;,b7 z appli$ to !   
debtor2  7,b7 t prohibits1 re/ricts1 or 
conditions ! assignm5t ( ! debt1        
contract1 lease1 or agreem5t2 or  7,c7 t
 accel]ates1 t]m9ates1 or modifies1 or  

p]mits a p>ty o!r ?an ! debtor to       
t]m9ate or modify1 ! debt1 contract1    
lease or agreem5t on acc\nt (--  7i7 !  
assignm5t ( ! debt1 contract1 lease1 or 
agreem5t2 or  7ii7 a *ange 9 control (  
any p>ty to ! debt1 contract1 lease1 or 
agreem5t4  7#b7 ,if !re is a default by 
! debtor "u a provision o!r ?an ! k9d   
describ$ 9 p>agraph 7#a7 9 a debt1      
contract1 lease or agreem5t ( ! k9d     
describ$ 9 subp>agraph 7,a7 or 7,b7 (   
subsection 7a77#b71 ! bridge company may
 assume su* debt1 contract1 lease1 or   
agreem5t only if ! bridge company--     
7,a7 %all cure ! default2  7,b7         
comp5sates1 or provides adequate        
assurance 9 connection ) a transf] "u   
section #aahe t ! bridge company w      
promptly comp5sate1 a p>ty o!r ?an !    
debtor to ! debt1 contract1 lease1 or   
agreem5t1 = any actual pecuni>y loss to 
! p>ty result+ f ! default2 &  7,c7     
provides adequate assurance 9 connection
 ) a transf] "u section #aahe ( future  
p]=mance "u ! debt1 contract1 lease1 or 

agreem5t1 z det]m9$ by ! c\rt "u section
 #aahe7;c77#d74  #aahh4 ,treatm5t (     
qualifi$ f9ancial contracts & affiliate 
contracts  7a7 ,not)/&+ sections        
#cfb7;b77#f71 #cfb7;b77#g71             
#cfb7;b77#ag71 #cfb7;b77#bg71 #cfb7o71  
#eee1 #eef1 #eei1 #efj1 & #efa1 a       
petition fil$ "u section #aahc op]ates z
 a /ay1 dur+ ! p]iod specifi$ 9 section 
#aahg7;a77#c77;,a71 applicable to all   
entities1 ( ! ex]cise ( a contractual   
"r--  7#a7 to cause ! modification1     
liquidation1 t]m9ation1 or accel]ation (
 a qualifi$ f9ancial contract ( ! debtor
 or an affiliate2  7#b7 to (fset or net 
out any t]m9ation value1 paym5t am\nt1  
or o!r transf] obligation aris+ "u or 9 
connection ) a qualifi$ f9ancial        
contract ( ! debtor or an affiliate2 or 
7#c7 "u any security agreem5t or        
arrangem5t or o!r cr$it enhancem5t =m+ a
 "p ( or relat$ to a qualifi$ f9ancial  
contract ( ! debtor or an affiliate4    
7b7  7#a7 ,dur+ ! p]iod specifi$ 9      
section #aahg7;a77#c77;,a71 ! tru/ee or 

! affiliate %all p]=m all paym5t &      
deliv]y obligations "u su* qualifi$     
f9ancial contract ( ! debtor or !       
affiliate1 z ! case may be1 t become due
 aft] ! comm5cem5t ( ! case4 ,! /ay     
provid$ "u subsection 7a7 t]m9ates z to 
a qualifi$ f9ancial contract ( ! debtor 
or an affiliate imm$iately ^u ! failure 
( ! tru/ee or ! affiliate1 z ! case may 
be1 to p]=m any su* obligation dur+ su* 
p]iod4  7#b7 ,any failure by a c\nt]p>ty
 to any qualifi$ f9ancial contract ( !  
debtor or any affiliate to p]=m any     
paym5t or deliv]y obligation "u su*     
qualifi$ f9ancial contract1 includ+ dur+
 ! p5d5cy ( ! /ay provid$ "u subsection 
7a71 %all con/itute a brea* ( su*       
qualifi$ f9ancial contract by !         
c\nt]p>ty4  7c7 ,subject to ! c\rt's    
approval1 a qualifi$ f9ancial contract  
betwe5 an entity & ! debtor may be      
assign$ to or assum$ by ! bridge company
 9 a transf] "u section #aahe if & only 
if--  7#a7 all qualifi$ f9ancial        
contracts betwe5 ! entity & ! debtor are

 assign$ to & assum$ by ! bridge company
 9 ! transf] "u section #aahe2  7#b7 all
 claims ( ! entity aga9/ ! debtor "u any
 qualifi$ f9ancial contract betwe5 !    
entity & ! debtor 7o!r ?an any claim t1 
"u ! t]ms ( ! qualifi$ f9ancial         
contract1 is subord9at$ to ! claims (   
g5]al unsecur$ cr$itors7 are assign$ to 
& assum$ by ! bridge company2  7#c7 all 
claims ( ! debtor aga9/ ! entity "u any 
qualifi$ f9ancial contract betwe5 !     
entity & ! debtor are assign$ to &      
assum$ by ! bridge company2 &  7#d7 all 
prop]ty secur+ or any o!r cr$it         
enhancem5t furni%$ by ! debtor = any    
qualifi$ f9ancial contract describ$ 9   
p>agraph 7#a7 or any claim describ$ 9   
p>agraph 7#b7 or 7#c7 "u any qualifi$   
f9ancial contract betwe5 ! entity & !   
debtor is assign$ to & assum$ by !      
bridge company4  7d7 ,not)/&+ any       
provision ( a qualifi$ f9ancial contract
 or ( applicable nonbankruptcy law1 a   
qualifi$ f9ancial contract ( ! debtor t 
is assum$ or assign$ 9 a transf] "u     

section #aahe may n be accel]at$1       
t]m9at$1 or modifi$1 aft] ! entry ( !   
ord] approv+ a transf] "u section #aahe1
 & any "r or obligation "u ! qualifi$   
f9ancial contract may n be accel]at$1   
t]m9at$1 or modifi$1 aft] ! entry ( !   
ord] approv+ a transf] "u section #aahe 
solely because ( a condition describ$ 9 
section #aahg7;c77#a71 o!r ?an a        
condition ( ! k9d specifi$ 9 section    
#aahg7;b7 t occurs aft] prop]ty ( !     
e/ate no long] includes a direct        
b5eficial int]e/ or an indirect         
b5eficial int]e/ ?r\gh ! special tru/ee1
 9 m ?an #ej p]c5t ( ! equity securities
 ( ! bridge company4  7e7 ,not)/&+ any  
provision ( any agreem5t or 9 applicable
 nonbankruptcy law1 an agreem5t ( an    
affiliate 7includ+ an executory         
contract1 an unexpir$ lease1 qualifi$   
f9ancial contract1 or an agreem5t "u :i*
 ! affiliate issu$ or is obligat$ =     
debt7 & any "r or obligation "u su*     
agreem5t may n be accel]at$1 t]m9at$1 or
 modifi$1 solely because ( a condition  

describ$ 9 section #aahg7;c77#a71 o!r   
?an a condition ( ! k9d specifi$ 9      
section #aahg7;b7 t occurs aft] ! bridge
 company is no long] a direct or        
indirect b5eficial hold] ( m ?an #ej    
p]c5t ( ! equity securities ( !         
affiliate1 at any "t aft] ! comm5cem5t (
 ! case if--  7#a7 all direct or        
indirect int]e/s 9 ! affiliate t are    
prop]ty ( ! e/ate are transf]r$ "u      
section #aahe to ! bridge company )9 !  
p]iod specifi$ 9 subsection 7a72  7#b7 !
 bridge company assumes--  7,a7 any     
gu>antee or o!r cr$it enhancem5t issu$  
by ! debtor relat+ to ! agreem5t ( !    
affiliate2 &  7,b7 any "r ( set(f1 nett+
 arrangem5t1 or debt ( ! debtor t       
directly arises out ( or directly       
relates to ! gu>antee or cr$it          
enhancem5t2 &  7#c7 any prop]ty ( !     
e/ate t directly s]ves z collat]al = !  
gu>antee or cr$it enhancem5t is         
transf]r$ to ! bridge company4  #aahi4  
,lic5ses1 p]mits1 & regi/rations  7a7   
,not)/&+ any o!rwise applicable         

nonbankruptcy law1 if a reque/ is made  
"u section #aahe = a transf] ( prop]ty (
 ! e/ate1 any ,f$]al1 ,/ate1 or local   
lic5se1 p]mit1 or regi/ration t ! debtor
 or an affiliate _h imm$iately be=e !   
comm5cem5t ( ! case & t is propos$ to be
 transf]r$ "u section #aahe may n be    
accel]at$1 t]m9at$1 or modifi$ at any "t
 aft] ! reque/ solely on acc\nt (--     
7#a7 ! insolv5cy or f9ancial condition (
 ! debtor at any "t be=e ! clos+ ( !    
case2  7#b7 ! comm5cem5t ( a case "u ?is
 title conc]n+ ! debtor2  7#c7 !        
appo9tm5t ( or tak+ possession by a     
tru/ee 9 a case "u ?is title conc]n+ !  
debtor or by a cu/odian be=e !          
comm5cem5t ( ! case2 or  7#d7 a transf] 
"u section #aahe4  7b7 ,not)/&+ any     
o!rwise applicable nonbankruptcy law1   
any ,f$]al1 ,/ate1 or local lic5se1     
p]mit1 or regi/ration t ! debtor _h     
imm$iately be=e ! comm5cem5t ( ! case t 
is includ$ 9 a transf] "u section #aahe 
%all be valid & all rights & obligations
 !reund] %all ve/ 9 ! bridge company4   

#aaij4 ,exemption f securities laws ,=  
purposes ( section #aade1 a security ( !
 bridge company %all be deem$ to be a   
security ( a successor to ! debtor "u a 
plan if ! c\rt approves ! disclosure    
/atem5t = ! plan z provid+ adequate     
in=mation 7z def9$ 9 section #aabe7;a77 
ab\t ! bridge company & ! security4     
#aaia4 ,inapplicability ( c]ta9 avoid+  
p[]s ,a transf] made or an obligation   
incurr$ by ! debtor to an affiliate     
prior to or aft] ! comm5cem5t ( ! case1 
includ+ any obligation releas$ by !     
debtor or ! e/ate to or = ! b5efit ( an 
affiliate1 9 contemplation ( or 9       
connection ) a transf] "u section #aahe 
is n avoidable "u section #edd1 #edg1   
#edh7;a77#a77;,b71 or #edi1 or "u any   
simil> nonbankruptcy law4  #aaib4       
,consid]ation ( f9ancial /ability ,!    
c\rt may consid] ! effect t any decision
 9 connection ) ?is sub*apt] may h on   
f9ancial /ability 9 ! ,unit$ ,/ates4  4 
#d4 ,am5dm5ts to title #bh1 ,unit$      
,/ates ,code  7a7 ,am5dm5t to *apt] #ac 

,*apt] #ac ( title #bh1 ,unit$ ,/ates   
,code1 is am5d$ by add+ at ! end !      
foll[+3  #bih4 ,judge = a case "u       
sub*apt] ,v ( *apt] #aa ( title #aa  7a7
 ,not)/&+ section #bie1 ! ,*ief ,ju/ice 
( ! ,unit$ ,/ates %all designate n few] 
?an #c judges ( ! c\rts ( appeals 9 n   
few] ?an #d circuits to s]ve on an      
appellate panel to be available to he>  
an appeal "u section #aahc ( title #aa 9
 a case "u su* title conc]n+ a cov]$    
f9ancial corporation4 ,appellate judges 
may reque/ to be consid]$ by ! ,*ief    
,ju/ice ( ! ,unit$ ,/ates = su*         
designation4  7b7  7#a7 ,not)/&+ section
 #bie1 ! ,*ief ,ju/ice ( ! ,unit$ ,/ates
 %all designate n few] ?an #aj          
bankruptcy judges to be available to he>
 a case "u sub*apt] ,v ( *apt] #aa (    
title #aa4 ,bankruptcy judges may reque/
 to be consid]$ by ! ,*ief ,ju/ice ( !  
,unit$ ,/ates = su* designation4  7#b7  
,not)/&+ section #aee1 a case "u        
sub*apt] ,v ( *apt] #aa ( title #aa %all
 be he>d "u section #aeg by a bankruptcy

 judge designat$ "u p>agraph 7#a71 :o   
%all be assign$ to he> su* case by !    
*ief judge ( ! c\rt ( appeals = !       
circuit embrac+ ! di/rict 9 :i* ! case  
is p5d+4 ,to ! greate/ ext5t            
practicable1 ! approvals requir$ "u     
section #aee %\ld be obta9$4  7#c7 ,if !
 bankruptcy judge assign$ to he> a case 
"u p>agraph 7#b7 is n assign$ to !      
di/rict 9 :i* ! case is p5d+1 !         
bankruptcy judge %all be tempor>ily     
assign$ to ! di/rict4  7c7  7#a7 ,! c\rt
 ( appeals %all h jurisdiction ( appeals
 f all ord]s = relief & ord]s (         
dismissal "u section #aahc ( title #aa4 
7#b7 ,not)/&+ section #bie1 9 an appeal 
"u p>agraph 7#a7 9 a case "u title #aa  
conc]n+ a cov]$ f9ancial corporation    
%all be he>d by--  7,a7 #c judges       
select$ f ! appellate panel designat$ "u
 subsection 7a72 or  7,b7 if ! #c judges
 ( su* panel are n imm$iately available 
to he> ! case1 #c judges designat$ "u   
subsection 7a7 f ano!r circuit & assign$
 by ! ,*ief ,ju/ice ( ! ,unit$ ,/ates to

 he> ! case4  7#c7 ,if any ( ! judges ( 
! appellate panel specifi$ 9 p>agraph   
7#b7 is n assign$ to ! circuit 9 :i* !  
appeal is p5d+1 ! judges %all be        
tempor>ily assign$ to ! circuit4  7#d7  
,a case "u sub*apt] ,v ( *apt] #aa (    
title #aa1 & all proce$+s 9 ! case1 %all
 take place 9 ! di/rict 9 :i* ! case is 
p5d+4  7d7 ,9 ?is section1 ! t]m cov]$  
f9ancial corporation has ! mean+ giv5 t 
t]m 9 section #aja7i;,a7 ( title #aa4  4
  7b7 ,am5dm5t to section #accd ,section
 #accd ( title #bh1 ,unit$ ,/ates ,code1
 is am5d$ by add+ at ! end ! foll[+3    
7f7 ,?is section does n grant           
jurisdiction to ! di/rict c\rt aft] a   
transf] pursuant to an ord] "u section  
#aahe ( title #aa ( any proce$+ relat$  
to a special tru/ee appo9t$1 or to a    
bridge company =m$1 9 connection ) a    
case "u sub*apt] ,v ( *apt] #aa ( title 
#aa4  4  7c7 ,te*nical & con=m+ am5dm5t 
,! table ( sections = *apt] #ac ( title 
#bh1 ,unit$ ,/ates ,code1 is am5d$ by   
add+ at ! end ! foll[+3  #bih4 ,judge = 

a case "u sub*apt] ,v ( *apt] #aa (     
title #aa4  4  ,pass$ ! ,h\se (         
,repres5tatives ,decemb] #a1            
#bjad4;,cl]k4