Chapter 15 Emerging Trends: Creditors' Rights, Multinational Groups


US Bankruptcy Code Chapter 15, which incorporates the United Nations Model Cross-Border Insolvency Law, became effective October 2005. Designed to assist non-US proceedings in need of enforcement within the United States, interpretation of Chapter 15 is ever-emerging as it is applied to newly presented issues. The current article, presented at the AMERICAN BANKRUPTCY INSTITUTE ( 2011 Caribbean Insolvency Seminar, briefly addresses two issues: US creditor rights and multinational enterprise groups. A more expansive assessment of the application of Chapter 15 can be found in the Globe Law & Business ( book "CROSS-BORDER INSOLVENCY: A COMMENTARY ON THE UNCITRAL MODEL LAW", soon to be published in its Third Edition.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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