ANALYSIS: Whopping Ch. 15 Bankruptcy Filings May Be Misleading

It could be easy for some to forget the global nature of the pandemic and economic uncertainty that we are experiencing in the United States. As a result, I am taking a look at a less commonly known type of bankruptcy that could provide a glimpse into global insolvency trends, the Chapter 15.

Chapter 15 is a fairly new form of bankruptcy, introduced with the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) amendments. Chapter 15 allows a foreign representative of a business entity or individual to simultaneously file an ancillary bankruptcy in the United States (or other adopting ...