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The Law of Bankrupts of 1542 was the first law under English law taking care of bankruptcy or insolvency 3 Personal bankruptcy is likewise documented in East Asia According to al-Maqrizi, the Yassa of Genghis Khan contained an arrangement that mandated the death penalty for any individual that ended up being insolvent three times.

The court, on movement by a party in passion or the U.S. trustee and after notification and hearing, shall get the consultation of a case trustee for cause, including scams, deceit, incompetence, or gross mismanagement, or if such an appointment is in the interest of financial institutions, any type of equity security owners, and other interests of the estate.

A situation secondary to a pending bankruptcy proceeding in an international nation is started by an international agent" under chapter 15. The foreign rep has the right of straight access to USA courts for the purpose of filing an application for recognition of a foreign case" 11 U.S.C. § § 1504 and 1509.