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During the rest of that decade, while NYC teetered on the brink of bankruptcy, work proceeded at a snail’s pace. In the last year of Bloomberg’s tenure, $336 million was appropriated to dig the two shafts, which would permit the five million people living in the outer boroughs to receive water through Tunnel No.
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Suppose the owner files for bankruptcy protection before that step is taken. ” Section 546(b) , in turn, subjects the trustee’s powers to “any generally applicable law that permits perfection of an interest in property to be effective against an entity that acquires rights in such property before the date of such perfection.”
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