Asked by Jiwanjot Singh on Jul 26, 2024
Verified
Which of the following chapters of the Bankruptcy Code recognizes insolvency proceedings pending in a foreign country and relief for foreign debtors?
A) Chapter 7
B) Chapter 9
C) Chapter 11
D) Chapter 14
E) Chapter 15
Bankruptcy Code
The set of laws under the Title 11 of the United States Code that governs bankruptcy processes and proceedings in the United States.
Foreign Country
A nation that is outside of one's own, often involving differences in laws, customs, and practices.
Foreign Debtors
Individuals or entities located outside of a country's jurisdiction that owe money to creditors within that country.
- Identify the distinct chapters within the Bankruptcy Code and their particular uses.
Verified Answer
HT
Himanshika tagoreJul 27, 2024
Final Answer :
E
Explanation :
Chapter 15 of the Bankruptcy Code involves recognition of insolvency proceedings pending in a foreign country and relief for foreign debtors.
Learning Objectives
- Identify the distinct chapters within the Bankruptcy Code and their particular uses.