Federal · Title 11 — Bankruptcy

11 U.S.C. § 783: Additional powers of trustee

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The trustee under this subchapter has power to distribute property not of the estate, including distributions to customers that are mandated by subchapters III and IV of this chapter. sell the clearing bank to a depository institution or consortium of depository institutions (which consortium may agree on the allocation of the clearing bank among the consortium); merge the clearing bank with a depository institution; transfer contracts to the same extent as could a receiver for a depository institution under paragraphs (9) and (10) of section 11(e) of the Federal Deposit Insurance Act; transfer assets or liabilities to a depository institution; and the bridge depository institution to which such assets or liabilities are transferred shall be treated as a clearing bank for the purpose of this subsection; and any references in any such provision of law to the Federal Deposit Insurance Corporation shall be construed to be references to the appointing agency and that references to deposit insurance shall be omitted. Any reference in this section to transfers of liabilities includes a ratable transfer of liabilities within a priority class.

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