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.
Unofficial translation
Spot-checked
In force from 10 September 2015
Source page 127