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Chapter 15 (Cross-Border Insolvencies)

90 Second Lesson: What is a Chapter 15 Proceeding of the Bankruptcy Code?

QUESTION: Harry A asks, what is a Chapter 15 Proceeding? ANSWER: Chapter 15 of the Bankruptcy Code was enacted as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). It replaced existing section 304 of the Bankruptcy Code. Section 304 empowered U.S. courts to open an “ancillary” proceeding to representatives of […]


Chapter 15 Bankruptcy: A Concise Overview

Like commerce in general, bankruptcies are not necessarily restricted by borders. A company that files for insolvency protection in the Caribbean, Europe or the Far East may also have assets or interests elsewhere, like New York or Miami. Under those circumstances, the debtor’s representative may need the assistance of the U.S. bankruptcy courts to achieve […]


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