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Foreign Bankruptcies Commercial Bankruptcy

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Greece (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER GREEK LAW - Introduction - In the Greek law there are several types of proceedings addressing the inability of a merchant debtor (either a natural...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Australia (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER AUSTRALIAN LAW - Companies - Corporate insolvency in Australia mostly involves a company being placed in liquidation or administration. Companies...more

WilmerHale

Trending: Special Deference for Foreign Insolvency Proceedings Both In and Out of Chapter 15

WilmerHale on

Several cases this year have demonstrated the continuing trend of U.S. courts’ respect toward foreign insolvency proceedings. Recent decisions from the Third and Eleventh Circuits, Southern District of New York and other...more

Jones Day

Business Restructuring Review Vo. 23 No. 5 - September–October 2024

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The Singapore International Commercial Court (the "SICC"), a division of the General Division of the High Court and part of the Supreme Court of Singapore, was established in 2015 as a trusted neutral forum to meet increasing...more

Jones Day

Ownership Dispute Regarding Foreign Debtor's U.S. Assets Must Be Resolved Before a U.S. Bankruptcy Court Can Approve Sale Under...

Jones Day on

As the enactment of chapter 15 of the Bankruptcy Code approaches its 20-year anniversary, U.S. bankruptcy courts are still grappling with some unresolved issues concerning how its provisions should be applied to best...more

Jones Day

Chapter 15 Recognition Is No Rubber Stamp: Recent Trends Regarding Foreign Main and Nonmain Recognition

Jones Day on

he number of complex cross-border restructurings continues to rise as the various economies of the world become more integrated. A growing contingent of countries has enacted sophisticated restructuring regimes or refined...more

Jones Day

Circuit Split: Eleventh Circuit and Second Circuit Disagree on Eligibility Requirements for Chapter 15 Debtors

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Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more

Jones Day

Cayman Islands Branch of FDIC-Insured U.S. Bank Ineligible for Chapter 15 Relief

Jones Day on

The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more

Jones Day

Third Circuit Updates Its Standard for Granting Comity to Foreign Bankruptcy Proceedings

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"Comity" is a principle of jurisprudence whereby, under appropriate circumstances, one country recognizes within its borders the legislative, executive, or judicial acts of another nation. Many recent court rulings have...more

Jones Day

Delaware Bankruptcy Court: "Center of Main Interests" for Purposes of Chapter 15 Recognition Must Be Determined on...

Jones Day on

Determining a foreign debtor's "center of main interests" ("COMI") for purposes of recognizing a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code can be problematic in cases...more

Patterson Belknap Webb & Tyler LLP

Courts Split Over Requirement for Chapter 15 Jurisdiction in the U.S.

To file bankruptcy in the U.S., a debtor must reside in, have a domicile or a place of business in, or have property in the United States. 11 U.S.C. § 109(a). In cross border chapter 15 cases, courts have considered whether...more

Mayer Brown

Adler: Court of Appeal sets aside sanction of a Restructuring Plan

Mayer Brown on

In the first appeal of a restructuring plan under Part 26A Companies Act 2006, the English Court of Appeal unanimously set aside the first instance decision sanctioning the plan proposed by AGPS BondCo PLC, part of the Adler...more

Cadwalader, Wickersham & Taft LLP

The 2023 Restructuring Market Wrap-Up

As 2024 gets underway, 2023 will be remembered as the year that King Charles III’s coronation captured our attention with its many (and occasionally bizarre) storied traditions and customs and, of course, for the passing of...more

Jones Day

Double-Dip Financings: The Next Wave in European Liability Management?

Jones Day on

A “double-dip” structure is considered a way to allow some creditors to have multiple claims against key obligors arising out of the same underlying transactions. These additional claims could improve their position relative...more

Holland & Knight LLP

La caída de las normas especiales de insolvencia

Holland & Knight LLP on

En este episodio de "A Lo Legal En Par Minutos", nuestro socio Edwin Cortés Mejía conversa con María Alejandra Mercado Donato, abogada del equipo de derecho corporativo e insolvencia, sobre la caída de los decretos especiales...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Greece (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER GREEK LAW - Introduction - In the Greek law there are several types of proceedings addressing the inability of a merchant debtor (either a...more

A&O Shearman

Bankruptcy Petition vs Exclusive Jurisdiction Clause

A&O Shearman on

Who has the last word? The effect of an exclusive jurisdiction clause on insolvency proceedings - On 4 May 2023, the Court of Final Appeal (CFA) handed down its much-awaited judgment in Re Guy Kwok Hung Lam [2023] HKCFA...more

Jones Day

Chapter 15 Recognition Limited to Foreign Insolvency, Liquidation, or Restructuring Proceedings

Jones Day on

In In re Global Cord Blood Corp., 2022 WL 17478530 (Bankr. S.D.N.Y. Dec. 5, 2022), the U.S. Bankruptcy Court for the Southern District of New York denied without prejudice a petition filed by the joint provisional liquidators...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Thailand (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER THAI LAW - The law of Thailand regarding insolvency, bankruptcy and rehabilitation proceeding are stipulated and applied through Thai Bankruptcy Act...more

Jenner & Block

Compilation of Recent Developments in Bankruptcy Law - January 2023

Jenner & Block on

1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Portugal (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER PORTUGUESE LAW - I. INTRODUCTION – KEY ASPECTS OF PORTUGUESE LAW - DEFINITION OF INSOLVENCY AND LEGAL FRAMEWORK - Insolvency proceedings consist...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in the Netherlands (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER DUTCH LAW - I. Insolvency proceedings in The Netherlands - There are four law-regulated insolvency proceedings in The Netherlands: bankruptcy...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Israel (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ISRAELI LAW - The Israeli Parliament (Knesset) passed a new statute regarding insolvency law, which is named the Insolvency and Rehabilitation Law-...more

International Lawyers Network

Bankruptcy, Insolvency & Rehabilitation Proceedings in Greece (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER GREEK LAW - In the Greek law there are several types of proceedings addressing the inability of a merchant debtor (either a natural person or a legal...more

Bennett Jones LLP

Ontario Court of Appeal Considers Interpretation of “Creditors or Others” Under the Fraudulent Conveyances

Bennett Jones LLP on

The Ontario Fraudulent Conveyances Act (the FCA), a concise statute of long-standing that traces its history to an English statute of 1571, is intended to prevent conveyances of property made with the intent to defeat,...more

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