Chapter 15 of the U.S. Bankruptcy Code provides a streamlined process for recognition (a form of comity) of a foreign insolvency proceeding. However, courts are divided as to whether a.
The history of bankruptcy practice in the Bankruptcy Code era, 1979 to present, has been one of eliminating chance and uncertainty. This has been accomplished by consolidating.
The previously extraordinary relief of selling all of the assets of the debtor at the very outset of the case has become the ordinary course for many Chapter 11 proceedings. A tool for controlling the process is the Restructuring Support Agreement or Plan Support Agreement.