The Wisconsin Petition for Recognition of Foreign Proceeding is a procedure for a creditor to petition the Bankruptcy Court for recognition of a foreign insolvency proceeding. This petition is used to recognize a foreign insolvency proceeding under the Model Law on Cross-Border Insolvency (Model Law), which requires recognition when certain tests are met. The petition must be made by a creditor, and will generally include information on the type of foreign insolvency proceeding, the details of the foreign proceeding, and the grounds for recognition. The types of Wisconsin Petition for Recognition of Foreign Proceeding are as follows: Chapter 15 Recognition Petition, Cross-Border Recognition Petition, and Section 304 Recognition Petition.
The Wisconsin Petition for Recognition of Foreign Proceeding is a procedure for a creditor to petition the Bankruptcy Court for recognition of a foreign insolvency proceeding. This petition is used to recognize a foreign insolvency proceeding under the Model Law on Cross-Border Insolvency (Model Law), which requires recognition when certain tests are met. The petition must be made by a creditor, and will generally include information on the type of foreign insolvency proceeding, the details of the foreign proceeding, and the grounds for recognition. The types of Wisconsin Petition for Recognition of Foreign Proceeding are as follows: Chapter 15 Recognition Petition, Cross-Border Recognition Petition, and Section 304 Recognition Petition.