For multinational situation,applies to U.S.assets of firms that file primary bankruptcy in another country

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Chapter 15 of the U.S. Bankruptcy Code provides a framework for dealing with multinational bankruptcy cases. It applies to cases where a foreign company has assets in the United States, and a primary bankruptcy case has been filed in another country. Chapter 15 allows for cooperation and coordination between the U.S. court and the foreign court, and helps to ensure that the assets of the bankrupt company are distributed fairly among all of its creditors, regardless of their location.

For Multinational Situation,applies to U