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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1942 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 1942

               To amend title 11, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             April 2, 2009

   Mr. Nadler of New York (for himself and Mr. Cohen) introduced the 
  following bill; which was referred to the Committee on the Judiciary

_______________________________________________________________________

                                 A BILL

 
               To amend title 11, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as ``Business Reorganization and Job 
Preservation Act of 2009''.

SEC. 2. AMENDMENTS TO TITLE 11 OF THE UNITED STATES CODE.

    Title 11 of the United States Code is amended--
            (1) by amending section 365(d)(4) to read as follows:
    ``(4) Notwithstanding paragraphs (1) and (2), in a case under any 
chapter of this title, if the trustee does not assume or reject an 
unexpired lease of nonresidential real property under which the debtor 
is the lessee within 60 days after the date of the order for relief, or 
within such additional time as the court, for cause, within such 60-day 
period, fixes, then such lease is deemed rejected, and the trustee 
shall immediately surrender such nonresidential real property to the 
lessor.'',
            (2) in section 366--
                    (A) in subsection (a) by striking ``subsections (b) 
                and (c)'' and inserting ``subsection (b)'', and
                    (B) by striking subsection (c),
            (3) in section 503(b)--
                    (A) in paragraph (7) by adding ``and'' at the end,
                    (B) in paragraph (8) by striking ``; and'' and 
                inserting a period, and
                    (C) by striking paragraph (9).
            (4) by amending section 546(c) to read as follows:
    ``(c) Except as provided in subsection (d) of this section, the 
rights and powers of a trustee under sections 544(a), 545, 547, and 549 
of this title are subject to any statutory or common-law right of a 
seller of goods that has sold goods to the debtor, in the ordinary 
course of such seller's business, to reclaim such goods if the debtor 
has received such goods while insolvent, but--
            ``(1) such a seller may not reclaim any such goods unless 
        such seller demands in writing reclamation of such goods--
                    ``(A) before 10 days after receipt of such goods by 
                the debtor; or
                    ``(B) if such 10-day period expires after the 
                commencement of the case, before 20 days after receipt 
                of such goods by the debtor; and
            ``(2) the court may deny reclamation to a seller with such 
        a right of reclamation that has made such a demand only if the 
        court--
                    ``(A) grants the claim of such a seller priority as 
                a claim of a kind specified in section 503(b) of this 
                title; or
                    ``(B) secures such claim by a lien.''.

SEC. 3. EFFECTIVE DATE; APPLICATION OF AMENDMENTS.

    (a) Effective Date.--Except as provided in subsection (b), this Act 
and the amendments made by this Act shall take effect on the date of 
the enactment of this Act.
    (b) Application of Amendments.--The amendments made by this Act 
shall apply only with respect to cases commenced under title 11 of the 
United States Code on or after the date of the enactment of this Act.
                                 <all>
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