Increasingly, as markets become global, commercial insolvency cases in the United States are taking on a cross-border dimension. In 2005, the United States Congress added Chapter 15 to the Bankruptcy Code, which incorporates the Model Law on Cross-Border Insolvency adopted in other countries. In addition, foreign debtors with assets in the U.S. are eligible to reorganize and discharge their debts under Chapter 11 of the Bankruptcy Code.
In this environment, international companies, who may be unfamiliar with U.S. bankruptcy law and procedures, are nonetheless looking to protect their interests. Caplin & Drysdale's highly skilled insolvency practitioners can help. Our firm has represented creditors and official creditors committees in the Chapter 11 reorganizations of non-U.S. debtors. In addition, our firm has worked with practitioners outside the U.S. to obtain foreign recognition of orders and judgments of the U.S. bankruptcy court and to negotiate and structure financial transactions involving assets in multiple countries.
We have also worked with overseas counsel in coordinating the conduct of litigation filed outside the U.S. Our emphasis on close communications with clients, relatively lean staffing, and hands-on involvement by senior lawyers is key to our group's success in delivering legal services of the highest quality at an excellent value.