Any person who resides or has a domicile or a place of business or property in the US or even a Municipality can be a debtor under the provisions of the Bankruptcy Law.
Chapter 7 of the Act provides that a person may be a debtor if such person does not fall under the following categories:-
a railroad
a domestic insurance company
savings or cooperative banks
savings and loan associations
building and loan associations
homestead association
a New Market Capital Venture Company
any small business investment company
credit union
insured bank
foreign insurance company engaged in business in the United States
foreign savings or cooperative bank
foreign savings and loan association
foreign credit union that has a branch or agency in the United States
Under chapter 9, an entity may be a debtor if such entity-
Is a municipality
Is specifically authorized, in its capacity as a municipality or by name, to be a debtor by State law, or by a governmental officer or organization empowered by State law to authorize such entity to be a debtor
Is insolvent
Desires to effect a plan to adjust such debts; and
Has obtained the agreement of creditors holding at least a majority in amount of the claims of each class that such entity intends to impair under a plan and
No individual or family farmer may be a debtor under this title who has been a debtor in a case pending under this title at any time in the preceding 180 days if—
The case was dismissed by the court for purposeful failure of the debtor to follow orders of the court, or to appear before the court in proper prosecution of the case; or
The debtor requested and obtained the voluntary dismissal of the case following the filing of a request for relief from the automatic stay provided by this Act.
