4. Chapter 15 - Bankruptcy Code (U.S)

Chapter 15 of the U.S. Bankruptcy Code deals with international bankruptcy cases where companies or individuals have assets and debts in multiple countries. It allows U.S. courts to recognize foreign bankruptcy proceedings and cooperate with foreign representatives. This helps manage the effects of insolvency across borders, ensuring fair treatment of creditors and orderly handling of assets. Essentially, Chapter 15 provides a framework to address complex financial situations that involve parties from different countries, aiming for a consistent and efficient resolution.