This chapter aims at providing effective ways to deal with foreign bankruptcy proceedings within the meaning of Article l-3 above in order to promote the following objectives:
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ensure cooperation between courts and other competent authorities of States Parties and
those of foreign States, as defined in article 1-3 above, intervening in foreign bankruptcy
proceedings;
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ensure greater legal security in trade and investments;
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administer fairly and efficiently the bankruptcy proceedings so as to protect the interests of all creditors and other interested parties, including the debtor;
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protect all the debtor's assets and optimize their value;
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Facilitate the restructuring of distressed companies so as to protect their investment and preserve employment.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 127
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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