Why some foreign firms are pursuing Chapter 11 bankruptcy protection

Some foreign companies are choosing to use Chapter 11 filings in the U.S. to deal with financial difficulties. "It's generally recognized worldwide that the United States has the most efficient forum for restructuring international companies," said Howard Seife of Chadbourne & Parke. "If a debtor hopes to reorganize, many jurisdictions are just not welcoming or friendly to do that."

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