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 courts — each addressing various contours of chapter 15 of the U.S. Bankruptcy Code and U.S. courts’ interactions with foreign insolvency generally — demonstrate openness to novel approaches to evaluating foreign proceedings in the U.S. These decisions are underpinned by a philosophical alignment of deference toward foreign insolvency proceedings.
Originally published in ABI Journal - October 2024.
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