Enforcement by US Courts of Releases Granted in Foreign Insolvency Proceedings


Given the uncertain and relatively difficult road that debtors or trustees must travel to acquire an enforceable, non-consensual, non-debtor third party release in the United States, one might expect that the path to obtaining an injunction from a US bankruptcy court in support of a third party release sanctioned by a non-US court to be littered with even more obstacles. Indeed, one has not always been able to take for granted that the release or discharge of even a debtor itself by a non-US court will be given effect in the United States. As explained below, however, a trend toward granting injunctive relief in support of judicial decrees releasing third parties in non-US insolvency proceedings may be emerging, at least in bankruptcy courts, such as those sitting in New York and Delaware, that have been friendlier toward non-debtor third party releases in plenary cases.

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