{"iri":"https://folio.openlegalstandard.org/RDbrzFzgheftqJ09xcT2ICs","label":"Recognition of Foreign Restructuring Objectives","sub_class_of":["https://folio.openlegalstandard.org/RXSQ7cfAYqk20qAg9n2wxi"],"parent_class_of":["https://folio.openlegalstandard.org/RCH6QfDmL0LVgc1n4uJvwKk","https://folio.openlegalstandard.org/RCv6Kq9tkPBxjujeEY7MyL9","https://folio.openlegalstandard.org/RhODoZEsVZp3nkeCKtJhmL","https://folio.openlegalstandard.org/RuQrjxxvpOmozofPFu0LZ2"],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":"Chapter 15 Objectives","alternative_labels":["Foreign Insolvency Recognition","International Bankruptcy Recognition"],"translations":{},"hidden_label":null,"definition":"Recognition of foreign restructuring involves the acknowledgment and enforcement of a foreign insolvency proceeding by domestic courts. In the U.S., Chapter 15 of the Bankruptcy Code facilitates this process, allowing foreign debtors to access U.S. courts to protect their assets and restructure their debts under international cooperation principles.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}