Title 11 — Bankruptcy
Chapter 9 — Adjustment of Debts of a Municipality
§ 944. Effect of confirmation
Statutory text
The provisions of a confirmed plan bind the debtor and any creditor, whether or not—
a proof of such creditor’s claim is filed or deemed filed under section 501 of this title;
such claim is allowed under section 502 of this title; or
such creditor has accepted the plan.
Except as provided in subsection (c) of this section, the debtor is discharged from all debts as of the time when—
the plan is confirmed;
the debtor deposits any consideration to be distributed under the plan with a disbursing agent appointed by the court; and
the court has determined—
that any security so deposited will constitute, after distribution, a valid legal obligation of the debtor; and
that any provision made to pay or secure payment of such obligation is valid.
The debtor is not discharged under subsection (b) of this section from any debt—
excepted from discharge by the plan or order confirming the plan; or
owed to an entity that, before confirmation of the plan, had neither notice nor actual knowledge of the case.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 95–598 · 92 Stat. 2549
Enacted · 11 U.S.C. § 944
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2624.)
Source evidence
Code source credit
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2624.)
0 of 1 references resolved to an enrolled provision · 1 partial
Notes
Historical and Revision Notes
senate report no. 95–989
[Section 947] Subsection (a) [enacted as section 944(a)] makes the provisions of a confirmed plan binding on the debtor and creditors. It is derived from section 95(a) of chapter 9 [section 415(a) of former title 11].
Subsections (b) and (c) [enacted as section 944(b) and (c)] provide for the discharge of a municipality. The discharge is essentially the same as that granted under section 95(b) of the Bankruptcy Act [section 415(b) of former title 11].
Credits
(Pub. L. 95–598, , 92 Stat. 2624.)