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Chapter 15 Navigation Introduction This chapter provides an introduction to cross-country ? King under visual ?light rules (VFR). It contains practical information for planning and executing cross-country
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Chapter 15 navigation refers to the federal bankruptcy law that deals with cross-border insolvency cases.
Any foreign representative seeking recognition of a foreign proceeding in the United States is required to file for chapter 15 navigation.
To fill out chapter 15 navigation, the foreign representative must submit a petition for recognition of the foreign proceeding to the bankruptcy court.
The purpose of chapter 15 navigation is to provide a framework for cooperation between U.S. courts and foreign courts in cross-border insolvency cases.
The foreign representative must report information about the foreign proceeding, the debtor, and other relevant details to the U.S. bankruptcy court.
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