# Recognition of Foreign Restructuring Objectives

**IRI:** https://folio.openlegalstandard.org/RDbrzFzgheftqJ09xcT2ICs

## Labels

**Preferred Label:** Chapter 15 Objectives

**Alternative Labels:**

- Foreign Insolvency Recognition
- International Bankruptcy Recognition

## 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.

## 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

**Deprecated:** False