Chapter 15 Objectives

Recognition of Foreign Restructuring Objectives - 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.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/RDbrzFzgheftqJ09xcT2ICs
Label (rdfs): Recognition of Foreign Restructuring Objectives
Preferred Label: Chapter 15 Objectives
Alternative Labels: Foreign Insolvency Recognition, International Bankruptcy Recognition
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Definition and Examples

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.
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Translations

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Class Relationships

Sub Class Of: Bankruptcy and Restructuring Objectives
Parent Class Of: Recognition of Foreign Insolvency

COMI (Center of Main Interest)

Main Proceeding (Foreign Insolvency)

Non-Main Proceeding (Foreign Insolvency)
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Additional Information

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Deprecated: False

Metadata

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