Can a foreign corporation replace domestic subsidiary as plan sponsor following cessation of domestic subsidiary's operations?

[Guest JGodsoe]

Domestic corporation (DC) sponsors a db plan. DC is in process of winding down its business, but cannot terminate db plan because it is not sufficiently funded. One possibility being considered is for the foreign parent of the DC to take over as administrator of the plan and satisfy its funding obligations. Can the foreign parent take over as plan sponsor? I am aware of the domestic trust requirements - but assuming those requirements can be satisfied - does this arrangement present any other qualification issues?