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Export GuideImport Guide

Legal Proceedings

“If a party suffered an injury in a specific jurisdiction or events relating to the cause of action taking place in a specific jurisdiction, the injured party may bring a suit in that jurisdiction.

For instance, if a company in Pakistan was wronged in some way in California, that business may bring suit in California, regardless of the fact that the business may be incorporated elsewhere and not have a physical presence in the state. While there is a limit to where a plaintiff may bring suit—a company in Pakistan and harmed in California likely could not bring suit in North Dakota or Mexico, as those courts would have no arguable connection to the events at issue.

Venue and choice of law clauses are commonly used by sophisticated parties to make sure that there is no controversy—jurisdictional/choice of law fights are often complex, time-consuming, and expensive—over the basic aspects of potential future litigation.”

Filing a claim against a bankrupt company

Once a bankruptcy has been filed by a US company, a foreign debtor can file a claim by filling out a Proof of Claim form (form 410), within the statute of limitations.

Statute Of Limitations During Bankruptcy

“Creditors can collect on most financial obligations for only a few years. This is referred to as a “statute of limitations.” The amount of time a creditor has to collect varies from state to state, and also depends on the type of debt.

Congress has stated that nonbankruptcy statutes of limitations may be extended for creditors when a debtor files for bankruptcy protection. Section 108(c) of the Bankruptcy Code provides that a statute of limitations that expires during a debtor’s bankruptcy case is automatically extended for thirty days after the termination of the automatic stay. Additionally, if the statute of limitations is set to expire within thirty days of the termination of the automatic stay, the statute of limitations is extended for thirty days after the termination of the automatic stay (so either way the creditor gets at least thirty days to collect after the automatic stay terminates). If the statute of limitations does not expire until thirty days after the termination of the automatic stay, the bankruptcy has no effect.”


Pakistan Trade Organizations