International Bankruptcy

International bankruptcy refers to a legal process that addresses the financial failure of a company or individual operating across multiple countries. It involves coordinating laws and proceedings from different jurisdictions to resolve debts fairly and efficiently. The goal is to protect assets, settle obligations, and provide a structured way for creditors in various nations to recover what they’re owed, while respecting each jurisdiction’s legal standards. This process is complex due to differing laws and regulations, requiring international agreements or cooperation to manage cross-border insolvencies effectively.