If the reason for denial or nonpayment is | then you may elect to |
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(1) Not an assertion of insolvency or petition in bankruptcy under 11 U.S.C. chapter 7 or 11 | (i) Present your claim to any of the responsible parties for the COF; or(ii) Initiate a lawsuit against the designated applicant and/or any of the responsible parties for the COF; or (iii) Present your claim to the Fund using the procedures at 33 CFR part 136 . |
(2) An assertion of insolvency or petition in bankruptcy under 11 U.S.C. chapter 7 or 11 | (i) Pursue any of the remedies in items (1)(i) through (iii) of this table; or(ii) Present your claim to any of the designated applicant's guarantors; or (iii) Initiate a lawsuit against any of the designated applicant's guarantors. |