This term refers to Chapter 15 of the US Bankruptcy Code. Chapter 15 governs the provision of relief under US bankruptcy law to non-US companies and individuals in foreign insolvency proceedings that seek to protect their US-located assets from enforcement proceedings or direct appropriation by individual creditors.

Chapter 15 was introduced into the US Bankruptcy Code by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, and replaces former section 304 of the US Bankruptcy Code (now repealed).

In large part, Chapter 15 adopted the UNCITRAL Model Law on Cross-Border Insolvency (Model Law), which has been enacted in Great Britain, with some differences, by the Cross-Border Insolvency Regulations 2006 (SI 2006/1030).

For more information on Chapter 15, see the Restructuring and insolvency in the United States Global Guide.

For more information on the Model Law and the Cross-Border Insolvency Regulations 2006, see Practice note, The UNCITRAL Model Law on Cross-Border Insolvency and the Cross-Border Insolvency Regulations 2006.

For the text of Chapter 15, see Cornell University, US Code, Title 11, Chapter 15.