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Under 11 U.S.C. Section 101, the term:
(23) ''foreign
proceeding'' means proceeding, whether judicial or
administrative and hether or not under bankruptcy law, in a foreign country in which the
debtor's domicile, residence, principal place of business, or principal assets were
located at the commencement of such proceeding, for the purpose of liquidating an estate,
adjusting debts by composition, extension, or discharge, or effecting a reorganization;
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