Luckin Coffee Inc (LKNCY)

[Bjones2]

You have to be insolvent to file Chapter 15

This is a provincial liquidation according to press release, which translates to a Chapter 7 liquidation in US.

I will go away now, just trying to help out do what you want.

What Is Chapter 15 Bankruptcy?

BY DAVID HAYNES Updated July 31, 2020
Chapter 15 bankruptcy allows a foreign debtor to file for bankruptcy in the United States court system. It is used for insolvency cases that involve people or businesses with assets in more than one country.

What Is Chapter 15 Bankruptcy?
Chapter 15 bankruptcy allows foreign nationals to file for bankruptcy in the U.S. bankruptcy courts if they have assets, property, or business in multiple countries, including the United States.

It was added to the Bankruptcy Code in 2005 by the Bankruptcy Abuse Prevention and Consumer Protection Act. Chapter 15 is the newest adoption of the Model Law on Cross-Border Insolvency, which was created by the United Nations Commission on International Trade Law ("UNCITRAL") in 1997.1

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