Chapter 15 of the Bankruptcy Code provides a mechanism for a company in a foreign insolvency or debt-adjustment proceeding to seek injunctive relief against litigation in U.S. courts or U.S. bankruptcy court assistance in the administration and protection of its U.S. assets. To commence a Chapter 15 case, a petition seeking recognition of the foreign insolvency proceeding must be filed with a U.S. bankruptcy court. Such petition is filed by a foreign representative who is authorized in the foreign proceeding to administer the debtor's assets or to act as the debtor's representative. A request for provisional injunctive relief, such as a temporary restraining order, often accompanies the petition.
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