If the reason for denial or nonpayment is . . . | Then you may elect to . . . |
(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. |
30 C.F.R. §553.60