Bankruptcy
Aug. 23, 2013
Bankruptcy Code benefits draw foreign companies to file in U.S.
Foreign companies' recognition that the U.S. Bankruptcy Code is more business-friendly than many local insolvency laws has begun to drive up the number of Chapter 11 cases filed by various corporations headquartered abroad.
Daily Journal Staff Writer
A financially struggling London-based company, with lenders in Seoul and assets in Chicago, faces the question of where it should turn for economic relief. If it's like a growing number of foreign-based ventures, the answer might very well be U.S. Bankruptcy Court.
Among many foreign companies, there's now a greater recognition that the U.S. Bankruptcy Code is more business-friendly than th...
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