Chapter 15 of the Bankruptcy Code (U.S.)

Chapter 15 of the U.S. Bankruptcy Code deals with cross-border insolvency cases, allowing foreign companies facing bankruptcy to seek assistance in the U.S. courts. It aims to streamline the process for dealing with situations where a company's assets are located in multiple countries. This chapter provides a legal framework for recognizing foreign bankruptcy proceedings and allows for cooperation between U.S. and foreign courts, helping to protect creditors’ interests and ensure fair treatment of all parties involved. Essentially, it helps manage international financial troubles more effectively.