When doing business with a foreign company, it is important to identify the company’s “center of main interests” (“COMI”) as creditors may find themselves bound by the laws of the COMI locale. If a company initiates...more
In Morning Mist Holdings Limited v. Krys (In re Fairfield Sentry Limited), Case No. 11-4376, 2013 WL 1593348 (2d Cir. April 16, 2013), the United States Court of Appeals for the Second Circuit (the "Second Circuit") held that...more
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
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
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
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
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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