SECTION 256

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: - 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; - ensure greater legal security in trade and investments; - administer fairly and efficiently the bankruptcy proceedings so as to protect the interests of all creditors and other interested parties, including the debtor; - protect all the debtor's assets and optimize their value; - Facilitate the restructuring of distressed companies so as to protect their investment and preserve employment.