随着新型冠状病毒继续对全球经济造成负面影响，最近在美国根据美国破产法第11章申请破产的案件数量继续上升，并很可能会持续一段时间。如果您是一位外国供应商，当您的美国客户或买家申请第11章破产保护时，您应该如何应对呢？本问答系列旨在为申请破产的美国公司的海外供应商提供实用建议，其中包括中国外贸出口企业。本问答系列的第一篇文章将为您解答并介绍一些迫切需要考虑的基本问题和因素。我们将在后续文章中对其中多个问题和考量因素进行更详细地讲解（包括供应商索赔、破产程序中的权利保护、破产是如何运作的，以及第11章破产计划的程序）。

As the COVID-19 pandemic continues to negatively impact the global economy, the recent surge in Chapter 11 bankruptcy filings in the United States is likely to continue for some time to come. If you are a foreign supplier, what do you do when a U.S. customer files for Chapter 11 bankruptcy protection? This Q&A series aims to provide practical advice to foreign trade creditors (including Chinese suppliers) of bankruptcy U.S. companies. The first in the series will address general questions and considerations, many of which will be addressed in greater detail in future series which will cover specific issues relating toclaims of suppliers, protecting rights in a bankruptcy proceeding, how bankruptcy works, and the Chapter 11 bankruptcy plan process.

“第11章破产”允许企业通过一个法院监督下的程序重组其财务，其主要目标是促进企业在未来继续长久经营。第11章破产允许债务人企业继续“持有”公司业务，即该公司继续由破产申请提交前的管理层经营。

Chapter 11 bankruptcy allows businesses to reorganize their financial affairs in a court-monitored process whose primary goal is to facilitate businesses to continue operating into the future. Chapter 11 allows debtor businesses to remain “in possession”, that is, the company continues to be operated by the same management as before the bankruptcy case was filed.

企业的另一种破产程序选择是“第7章破产”。该程序涉及受托人的任命以及对债务人的清算。一旦该破产程序开始，该企业就将停止运营。尽管相关统计数据显示许多第11章破产案件均告失败，但大型案件（即涉及资产超过1千万美元的公司）往往有更高的重组成功率，尤其是在各利益相关人支持重组的情况下，包括债务人的供应商愿意继续与债务人进行业务往来的情况。

The alternative is Chapter 7 which involves the appointment of a trustee and liquidation of the debtor, which ceases operating once the bankruptcy case begins. While relevant statistics reflect that many chapter 11 cases fail, the larger cases (i.e. companies with over $10 millionin assets) tend to have better rates of success, particularly when various stakeholders support the reorganization, including vendors willing to continue dealing with the debtor.

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