LAW 360 - Spark Networks SE, the parent company of Zoosk, is taking significant steps to restructure its finances due to recent challenges. Initially, the company filed a restructuring plan in a German Court under the StaRUG law, a framework for stabilizing companies in financial distress. Subsequently, to align this process in the U.S., they filed a petition under Chapter 15 of the U.S. Bankruptcy Code. This move is not a typical bankruptcy but a strategic effort to reorganize and stabilize the company's finances globally. The aim is to ensure smoother operations and financial health across both German and U.S. jurisdictions.
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