Tampa International Bankruptcy Insolvency Filing Attorney
In the United States, bankruptcy laws are contained in the federal Bankruptcy Code. Each state is bound by the bankruptcy laws, although the states also have different allowable exemptions. Many other countries have laws that are similar to the United States bankruptcy laws, contact our Tampa international bankruptcy attorneys today.
A foreign business can file a bankruptcy in Florida under certain circumstances. Under Chapter 15, a foreign representative may seek relief from the bankruptcy court. Chapter 15 is a recently added section of the U.S. Bankruptcy Code, and it is essentially the adoption of the Model Law on Cross-Border Insolvency produced by the United Nations in 1997. It was enacted in 2005 as part of the Bankruptcy Abuse Prevention and Consumer Protection Act.
Bankruptcy laws are very different in, for example, the United Kingdom.