Easier Recovery of Customs Duties in Bankruptcy Cases.
This act aims to make it easier for companies and individuals who paid customs duties on behalf of someone else to recover those funds in case of the debtor's bankruptcy. This change increases their chances of getting their money back, potentially improving financial stability in trade relationships.
Key points
Amends bankruptcy law to allow creditors to recover customs duties paid on behalf of a debtor.
New rules apply to bankruptcy cases initiated after the law takes effect.
Status:
Expired
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