{"iri":"https://folio.openlegalstandard.org/RCH6QfDmL0LVgc1n4uJvwKk","label":"Recognition of Foreign Insolvency","sub_class_of":["https://folio.openlegalstandard.org/RDbrzFzgheftqJ09xcT2ICs"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":null,"alternative_labels":[],"translations":{},"hidden_label":null,"definition":"Recognition of foreign insolvency involves a domestic court acknowledging and giving effect to an insolvency proceeding initiated in another country. This legal process facilitates cooperation between jurisdictions, enabling efficient administration and resolution of cross-border insolvency cases.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}