Challenges Faced By U.S. Debtors Aiming to Qualify for Chapter 15 Recognition

When restructuring or liquidating a non-U.S.-based company with U.S. operations, practitioners should consider the benefit and efficiency of utilizing the company's home country laws under a foreign proceeding and a Chapter 15 in the United States.

8 minute read October 01, 2023 at 12:07 AM
By
Richard J. Bernard and Roya Imani
Challenges Faced By U.S. Debtors Aiming to Qualify for Chapter 15 Recognition

Although Chapter 11 under the Bankruptcy Code represents a powerful corporate restructuring tool, many complain about the cost of Chapter 11. Other countries have restructuring and liquidation regimes that may represent more efficient tools to restructure or liquidate non-U.S.

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