Helping Business Owners File And Recover From Chapter 15 Bankruptcy
Are you fond of traveling the world, sharing your business across the globe? International business has sprouted throughout the past few decades as global commerce streams through the Internet, sails across the oceans, and soars through the skies. International business also means abiding by many national and international laws and finances. Sometimes, business doesn’t go as usual, issues arise, and bankruptcy is all of a sudden in the picture.
Filing for chapter 15 bankruptcy is not failure nor an end to your international operations. International insolvency can be difficult for a business owner, which is why chapter 15 bankruptcy is modeled after multi-national bankruptcy laws and models involving businesses across borders.
There are five key elements to chapter 15 bankruptcy in the United States:
The first objective of chapter 15 bankruptcy is to ensure parties of all cross-border insolvency cases are in full cooperation with the proper authorities.
In order to ensure many nations can work together with fair trade and investment, chapter 15 bankruptcy protects the financial certainty of companies who impact different nations.
Bankruptcy is not meant to belittle or scam any interested parties. Chapter 15 bankruptcy strives to protect all people involved, especially the creditors, but also the debtor. Maxwell Dunn Law places a special focus on the debtor and the recovery and reorganization of business following the bankruptcy case. Learn more about our alternatives today.
When a debtor files chapter 15 bankruptcy, it is the duty of a bankruptcy law firm and the laws at hand to protect and maximize the value of the debtor’s assets. Essentially, everything in question of liquidation will be valued at the maximum cost to protect the debtor as much as possible.
The goal of bankruptcy is to save business and encourage growth. Chapter 15 bankruptcy focuses on the protection of the business in trouble, especially for the sake of the employees and the investment.