Examples of Bankruptcy Code in a sentence
The D.C. Circuit held that, because the FCC’s license cancellation was triggered by NextWave’s failure to make the re- quired payments, the cancellation fell within these automatic stay provisions of the Bankruptcy Code.
NextWave, however, began liti- gating in the bankruptcy court to keep its licenses while avoiding its obligations to make full and timely payment, by asserting a claim of ‘‘fraudulent conveyance’’ under Section 544 of the Bankruptcy Code, 11 U.S.C. § 544, based largely on an as- serted decline in the value of the licenses since the auctions.
That court held that section 525 of the Bankruptcy Code precluded the FCC’s automatic cancellation of NextWave’s licenses.
Three kinds of challenges are permitted—litigation concerning approval of the set- tlement under the Bankruptcy Code, constitutional challenges to the FCC’s approval of the settlement, and constitutional challenges to the implementing legislation.
Pursuant to Sections 1107(a) and 1108 of the Bankruptcy Code, the NextWave have operated their businesses and managed their properties as debtors-in-posses- sion.