Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more
3/31/2025
/ Assignments ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Credit Agreements ,
Debt Restructuring ,
Debtors-in-Possession ,
Equitable Mootness ,
Financial Distress ,
Foreign Bankruptcies ,
Indemnification Clauses ,
Restructuring
Nearing its 20th anniversary, chapter 15 of the Bankruptcy Code is an invaluable framework for coordinating cross-border bankruptcy cases involving foreign debtors that have assets located in the United States. It includes a...more
3/28/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Cayman Islands ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Foreign Bankruptcies ,
Investment Funds ,
Jurisdiction ,
Liquidation ,
Settlement Agreements
"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
3/25/2025
/ Bankruptcy Court ,
Breach of Contract ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Dispute Resolution ,
Foreign Bankruptcies ,
Foreign Jurisdictions ,
Insolvency ,
Jurisdiction ,
Litigation Strategies ,
New Jersey ,
Singapore
The expansion of global commerce in recent years has been accompanied by a significant increase in the volume of cross-border bankruptcy cases. Many of those cases involve "recognition" of foreign bankruptcy or insolvency...more
2/3/2025
/ Asset Freeze ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Veil ,
Foreign Bankruptcies ,
Insolvency ,
Jurisdiction ,
Public Policy ,
Reorganizations
"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
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." It has been generally understood that recognition of a foreign...more
Chapter 15 Update: U.S. Bankruptcy Court Refuses To Enforce Order Approving Indonesian Debt Restructuring Plan Due To Third-party Releases -
Cross-border bankruptcy cases filed in the U.S. under chapter 15 of the...more
7/23/2021
/ Article III ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Foreign Bankruptcies ,
Restructuring ,
Safe Harbors ,
Setoff Rights ,
Sharia Law ,
Standing ,
Subordination Agreement ,
Third-Party ,
Tolling
In cases under both chapter 15 of the Bankruptcy Code and its repealed predecessor, section 304, U.S. bankruptcy courts have routinely recognized and enforced orders of foreign bankruptcy and insolvency courts as a matter of...more
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
For more than a century, courts in England and Wales have refused to recognize or enforce foreign court judgments or proceedings that discharge or compromise debts governed by English law. In accordance with a rule (the...more
In the March/April 2013 edition of the Business Restructuring Review, we reported on an opinion by the U.S. Bankruptcy Court for the Southern District of New York concluding that a chapter 15 debtor’s sale of claims against...more
8/16/2017
/ 363 Sales ,
Abandonment ,
Appeals ,
Bankruptcy Court ,
Bernie Madoff ,
British Virgin Islands ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Court Nullification ,
Debtors ,
Determination on Remand ,
Foreign Debt ,
Jurisdiction ,
Liquidation ,
Ponzi Scheme ,
Reaffirmation ,
Sale of Assets ,
SIPA