Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition.
If Prospero’s plea to the audience at the...more
6/20/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Commercial Bankruptcy ,
Commercial Leases ,
Creditors ,
Debt Restructuring ,
Debtors ,
Due Process ,
Guarantors ,
Insolvency ,
Jurisdiction ,
Public Policy ,
Releases ,
Scheme of Arrangement ,
Secured Debt ,
Subrogation ,
Third-Party ,
UK
Judicial comments cast doubt on the ability to compromise US law-governed debt effectively based on Chapter 15 recognition alone.
A recent first instance decision in Hong Kong has highlighted an important...more
11/10/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border ,
Debt Restructuring ,
Foreign Debt ,
Hong Kong ,
Insolvency ,
Jurisdiction ,
Scheme of Arrangement ,
UNCITRAL
The Second Circuit holds that the presumption against extraterritoriality and international comity do not bar recovery of purely foreign transfers.
Key Points:
..The Second Circuit focused on the initial transfer from...more
3/7/2019
/ Asset Transfer ,
Bankruptcy Code ,
Bernie Madoff ,
Clawbacks ,
Comity ,
Extraterritoriality Rules ,
Feeder Funds ,
Foreign Investment ,
Liquidation ,
Non-US Feeder Funds ,
Ponzi Scheme
Cross-border debtors gain another tool to use against dissident creditors seeking to disrupt foreign restructuring proceedings.
Introduction -
In In re Ocean Rig UDW Inc., et al., Case No. 17-10736, a creditor...more
The recent drop in oil prices will likely spur a flurry of industry restructurings, governed by a complex set of bankruptcy and state laws.
Introduction -
At the close of business on December 31, 2014, the...more