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Under the principle of universalism, the orders of a foreign bankruptcy court should be recognized and enforced anywhere in the world regardless of where the debtor's assets are located. Under territorialism, courts in each country where the debtor's property is located have the right to administer the assets located in their country. Section 304 of Title 11 of the U.S. Code is a hybrid of both principles. Here are a few of the strategies that can be used in a �304 case.
September 30, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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