Chapter 15 of the Bankruptcy Code is a mechanism for debtors to have foreign insolvency proceedings recognized in the U.S. and to have the orders entered by a foreign court in those insolvency proceedings abroad given effect in the U.S.
Key Issues
RECOGNITION OF A FOREIGN MAIN PROCEEDING
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Chapter 11 plans contain various releases -- some in favor of the debtor and some in favor of certain nondebtor third parties. However, while creditors are bound by a Chapter 11 discharge, creditors have options for how to deal with a plan's third-party release.
Key Issues
CHAPTER 11 DISCHARGE
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