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
What does it mean for an entity to be a “debtor” under chapter 15, and does it matter whether the entity is a “debtor” under that chapter of the Bankruptcy Code? While these may seem like strange questions with obvious...more
Historically, many companies seeking bankruptcy protection have attempted to streamline and shorten their Chapter 11 cases to reduce cost and risk. But the COVID-19 pandemic may be disrupting that trend, especially in...more
Two recent bankruptcy court decisions - In re Serviços de Petróleo Constellation SA1 and In re Agrokor d.d.2 - demonstrate the increasing complexity of applying basic chapter 15 principles of “universalism” to global...more
The recent decision in In re National Bank of Anguilla (Private Banking Trust) Ltd.1 may cause readers to do a double-take. First, it is co-authored by two bankruptcy judges: Hon. Stuart M. Bernstein and Hon. Martin Glenn....more
Most lawyers familiar with chapter 15 cross-border insolvency proceedings might assume that “foreign” debtors in chapter 15 cases must be foreign entities — that is, entities not organized under the laws of U.S. states. For...more
Chapter 15 of the US Bankruptcy Code provides a doorway for non-US companies to obtain creditor protection and other benefits of a US bankruptcy in support of insolvency proceedings for those companies in their “home”...more