News & Analysis as of

Canada Bankruptcy Code Chapter 15

Eversheds Sutherland (US) LLP

Getting over the starting line: How multi-entity organizational structures can become a barrier to Chapter 15 relief

Chapter 15 of the Bankruptcy Code provides a valuable tool for non-US entities going through foreign insolvency proceedings when they have assets located in the United States. Chapter 15 can protect the value of US assets by...more

Eversheds Sutherland (US) LLP

Fifth Circuit requires Chapter 15 debtor to litigate in Texas state court

It may be fair to say that non-US entities involved in a chapter 15 case, the mechanism through which US courts recognize foreign insolvency proceedings, do not anticipate having to litigate claims raised in the chapter 15...more

Jones Day

New York District Court Rules That Chapter 15 Recognition Is Not Prerequisite to Enforcement of Foreign Bankruptcy Judgment Under...

Jones Day on

U.S. courts have a long-standing tradition of recognizing or enforcing the laws and court rulings of other nations as an exercise of international "comity." Since chapter 15 of the Bankruptcy Code was enacted in 2005, it has...more

Jones Day

No Comity Extended to Foreign Bankruptcy Without Chapter 15 Recognition

Jones Day on

U.S. courts have a long-standing tradition of recognizing or enforcing the laws and court rulings of other nations as an exercise of international "comity." Prior to the enactment of chapter 15 of the Bankruptcy Code in 2005,...more

Kramer Levin Naftalis & Frankel LLP

Third Circuit Holds That Share Purchasers Take Shares Subject to Plan, Including Releases of Liability for Debtor’s...

A three-judge panel for the Third Circuit Court of Appeals recently held, in Chapter 15 case In re Arctic Glacier Int’l, Inc., No. 17-2522 (3d Cir. Aug. 20, 2018), that when purchasers of stock of a debtor are on notice of...more

Dechert LLP

Can An Entity Qualify as a Chapter 15 Debtor Without Ever Filing for Bankruptcy?

Dechert LLP on

Chapter 15 of the Bankruptcy Code provides a framework through which representatives of foreign insolvency proceedings can commence ancillary U.S. proceedings and obtain relief from U.S. courts in aid of foreign...more

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