You are right chapter 15 only has jurisdiction over the debt ridden shell you own shares in . And the Delaware court was more then happy to go along with the liquidation of a vast majority of the assets in Canada. Leaving the empty Delaware shell with huge debt and no assets or business. When ccaa is terminated it will go back to Delaware in chapter 7 .
The US Bankruptcy Court in a Chapter 15 proceeding is generally limited in the scope of its power to affect only the assets of the foreign entity or persons that are within the United States.
Once the foreign representative initiates the Chapter 15 case, it can seek further relief from the bankruptcy court, including the filing of a full bankruptcy petition, such as under Chapter 7.
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