Insolvency

Recognition of Foreign Bankruptcy Proceedings Under Chapter 15

Transnational insolvency proceedings primarily involve cases where debtors have assets or creditors in multiple jurisdictions. To avoid conflicts between different bankruptcy regimes, many countries allow recognition of foreign bankruptcies in their territories and provide aid to foreign bankruptcy trustees. Recognition of foreign insolvency proceedings in the United States is governed by Chapter¬†15 of the U.S….

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