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12City of Houston, Texas, Ordinance No. 2015___ AN ORDINANCE AMENDING CHAPTER 15 OF THE CODE OF ORDINANCES, HOUSTON, TEXAS, TO CREATE A PROCUREMENT CODE FOR THE CITY OF HOUSTON AND TO AMEND DEBARMENT
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Chapter 15 of the contractscode generally pertains to the provisions for international insolvency cases, allowing the recognition and enforcement of foreign insolvency proceedings.
Entities that have been subject to foreign insolvency proceedings and wish to seek recognition or enforcement in another jurisdiction are required to file Chapter 15.
To fill out Chapter 15, one needs to complete the specific forms provided by the relevant jurisdiction's court, providing details about the foreign insolvency proceedings and the debtor's assets.
The purpose of Chapter 15 is to promote cooperation between U.S. courts and foreign courts in cross-border insolvency cases and to protect the interests of all creditors.
Chapter 15 filings typically require reporting details about the debtor, the foreign proceeding, the assets located in the U.S., and the creditors involved.
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