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Last week, Garuda Indonesia asked a New York bankruptcy court to recognise its recent debt restructuring agreement in a Jakarta court, under Chapter 15 of the U.S. Bankruptcy Code
Last week, Garuda Indonesia asked a New York bankruptcy court to recognise its recent debt restructuring agreement in a Jakarta court, under Chapter 15 of the U.S. Bankruptcy Code
Chapter 15 of the United States Bankruptcy Code was enacted in 2005 and represents the United States’ adoption of the Model Law on Cross-Border Insolvency so as to provide effective mechanisms for dealing with the cases of cross-border insolvency.