Chapter 15 (United States Bankruptcy Code)

Chapter 15 of the United States Bankruptcy Code deals with cross-border insolvency cases. It provides a legal framework for recognizing and assisting foreign bankruptcy proceedings, allowing U.S. courts to support the process of handling cases involving debtors with assets in multiple countries. This chapter aims to promote international cooperation, protect the interests of all creditors, and simplify the legal complexities when a business faces bankruptcy in more than one country. Essentially, it helps ensure that insolvency proceedings are coordinated smoothly across borders.