Please assume that an individual may file for bankruptcy in the US. 
The individual is currently involved in a litigation with the Israeli
version of the SEC in Israel arising out of transactions the
individual engaged in while living and working in Israel (it's not a
foreign bankruptcy proceeding, so new Bankrupcty Code chapter 15/old
Code section 304 is not implicated).  The individual moves to the US
and wishes to file bankruptcy here (there are no creditors other than
the plaintiff in the Israeli litigation, he just wishes to stay the
litigation and receive a discharge before the Judge issues a decision
in the Israeli litigation).  Will the bankruptcy filed in the US
stay and provide the individual with a discharge from the Israeli litigation?

"Please assume that an individual may file for bankruptcy in the US."

But you go on to state that the only creditor is the plaintiff in the
Israeli litigation, and he doesn't have a claim until the court
decides in his favor.

The person may be able to "file" for voluntary bankruptcy, but without
any creditors, it would seem that his case would be dismissed.

Why not?

It seems unlikely that Israeli law will be overridden by USA law.