In the United States, debtor-creditor relations involving, for example, contract and tort claims and property rights, are governed basically by the laws of the various states. However, state insolvency proceedings as such, e.g., receiverships, are relatively rare because the entire field of bankruptcy is comprehensively and exclusively regulated by the uniform federal Bankruptcy Code, codified, as amended in 1984, in 11 United States Code and in some sections of 28 United States Code. Under the Constitution, the states may not deal with, or even affect, insolvency matters in a manner that conflicts or is inconsistent with the text or the policy of the Code. The juridical classification of bankruptcy law is unproblematic. It constitutes a separate branch of federal law, administered exclusively by the federal courts under particularized structures and procedures. The present report will concentrate on the transnational features of the federal legislation.