Chapter 15 of the Bankruptcy Code

Chapter 15 of the Bankruptcy Code deals with cross-border insolvency cases, meaning it provides a legal framework for handling bankruptcies that involve debtors or assets in multiple countries. It aims to promote cooperation between courts and legal systems, ensuring fair treatment of creditors and preserving the value of the debtor's assets. This chapter allows foreign representatives to seek recognition and assistance in U.S. courts, facilitating the process for resolving international insolvencies while balancing the interests of all parties involved. It helps streamline procedures and encourages efficient resolutions in a global economy.