CHAPTER 43.3

January 2011

DEALING WITH A BANKRUPT’S AFFAIRS IN THE UNITED STATES OF AMERICA

43.3.1 Introduction

This chapter provides information and advice on issues of a practical nature when dealing with the bankrupt’s affairs (particularly, assets) in the United States of America. 

Currently the chapter contains only information to assist in dealing with an insolvent’s property in the United States of America.  The intention is that the chapter will be further developed to deal with other issues relating to that country as the need arises.

Chapter 43.0 covers those areas common to all “international” bankruptcies (such as gaining recognition of the insolvency order in another country and the legal basis on which the official receiver, as trustee, is able to deal with assets in overseas).

The chapter is divided into the following parts:

Part 1 – Dealing with a bankrupt’s property in the United States of America (paragraphs 43.3.2 to 43.3.17)

The chapter contains the following annex:

Annex 1 – Document explaining purpose and effect of a disclaimer

The following abbreviations are used in this chapter:

America – the United States of America

UNCITRAL – United Nations Commission on International Trade Law 

[On to Part 1 – Dealing with a bankrupt’s property in the United States of America]