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Global Insight - Issue 12, Q4 2014

In This Issue: - Americas: Chapter 15: Section 363 Review Trumps Comity - Continental Europe: ..Update On Spanish Insolvency Laws - Refinancing Agreements And Purchase Of Business Units Of Companies...more

U.S. Court Asserts its Authority in a Cross-Border Bankruptcy Case

The United States Court of Appeals for the Second Circuit recently asserted its authority in addressing an asset sale in a cross-border bankruptcy case where the main insolvency proceeding was conducted in the British Virgin...more

Supreme Court’s Denial of Certiorari Strengthens Intellectual Property Licensees’ Protections in Cross-Border Insolvency Cases

Chapter 15 of the Bankruptcy Code provides mechanisms for dealing with cases of cross-border insolvency. On Oct. 6, 2014, the U.S. Supreme Court, in Jaffé v. Samsung Electronics Co., Ltd., denied review of a decision of the...more

Commercial Restructuring & Bankruptcy Alert - October 2014

In this issue: - Judge Says That Stockton, California Can Cut Pension Obligations - Third-Party Releases – Better Make Sure They Are Adequately Disclosed - Lawyers Who Sign Proofs of Claims for Clients...more

Blog: U.S. Supreme Court Denies Review In Jaffe v. Samsung, Letting Stand The Fourth Circuit’s Decision Applying Section 365(n) To...

On Monday, October 6, 2014, the U.S. Supreme Court issued an order denying the petition for a writ of certiorari in the Jaffe v. Samsung case, also known as the Qimonda case. The Supreme Court let stand the Fourth Circuit’s...more

The Gateway to Chapter 15: An Evolving Issue

Chapter 15 of the United States Bankruptcy Code is a relatively recent addition to the American bankruptcy statute and it incorporates the United Nations Commission on International Trade Law Model Law on Cross-Border...more

Cross-Border Insolvency Proceedings: Recent Chapter 15 Filings in the United States

It is not surprising that the amount of Chapter 15 bankruptcy filings is growing in the global economy. Chapter 15 was added to the Bankruptcy Code by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. It is...more

The Timing Is Off: The Definitional Gap Between Plain Language And Legislative Intent In The Recognition Of Foreign Proceedings

The Second Circuit is currently considering an appeal arising from the decisions of the bankruptcy and district courts in Fairfield Sentry. Its opinion is likely to resolve a split of authority between the Fairfield Sentry...more

Skadden's 2013 Insights: Corporate Restructuring

The global reach of capital markets, financial difficulties in the eurozone and the multinational nature of many businesses and financial institutions have increased the importance of understanding legal, business and other...more

Fifth Circuit Crafts New Test For Foreign Debtor Relief

Originally published in the New York Law Journal on January 3, 2012. On Nov. 28, 2012, the U.S. Court of Appeals for the Fifth Circuit in In re Vitro S.A.B. de C.V. issued a groundbreaking decision under Chapter 15 of...more

Fifth Circuit Crafts New Test For Foreign Debtor Relief

Originally published in the New York Law Journal on January 3, 2012. On Nov. 28, 2012, the U.S. Court of Appeals for the Fifth Circuit in In re Vitro S.A.B. de C.V. issued a groundbreaking decision under Chapter 15 of...more

Fifth Circuit Refuses to Enforce Mexican Reorganization Plan's Proposed Release of Non-Debtor Bond Guarantors

The Fifth Circuit recently upheld a Texas Bankruptcy Court’s refusal to enforce non-debtor third party releases in the Mexican reorganization proceeding (known as a concurso mercantil) of Mexican glass manufacturer Vitro SAB...more

Bankruptcy Abroad: US Creditors’ Rights Remain Relevant in Chapter 15

With an increasing number of businesses operating without regard to borders in today’s global economy, the importance of understanding Chapter 15 — the Bankruptcy Code provisions instructing the cooperation between the United...more

Rogers Towers: The Extraordinary Remedy of Discharging Third Party Liability in Bankruptcy Proceedings

Recently the Fifth Circuit handed down a thorough opinion regarding Chapter 15 cross-border insolvency and its effects on domestic and foreign creditors. Beyond the Chapter 15 context, however, the court of appeals in In re...more

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