To file bankruptcy in the U.S., a debtor must reside in, have a domicile or a place of business in, or have property in the United States. 11 U.S.C. § 109(a). In cross border chapter 15 cases, courts have considered whether...more
4/26/2024
/ Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border ,
Debtors ,
Domicile ,
Foreign Bankruptcies ,
Insolvency ,
Jurisdiction ,
UK
Federal law assigns to U.S. district courts original jurisdiction over all cases under Title 11 (the Bankruptcy Code) and all civil proceedings arising under Title 11 or arising in or relating to Title 11. See 28 U.S.C. §...more
Judge Martin Glenn last week issued a decision in two related chapter 15 cases, In re Foreign Econ. Indus. Bank Ltd. “Vneshprombank” Ltd., No. 16-13534, and In re Larisa Markus, No. 19-10096, 2019 Bankr. LEXIS 3203 (Bankr....more
10/16/2019
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border ,
Federal Rules of Bankruptcy Procedure ,
Federal Rules of Civil Procedure ,
Foreign Jurisdictions ,
Foreign Subsidiaries ,
Jurisdiction ,
Motion to Vacate ,
Public Policy
Consider these facts. A debtor in bankruptcy sued two parties for breach of contract. The debtor assigned its rights and interests in the cause of action to another entity. The defendants moved to dismiss the lawsuit, arguing...more
9/11/2019
/ Appeals ,
Bankruptcy Court ,
Breach of Contract ,
Debtors ,
Federal Rules of Bankruptcy Procedure ,
Federal Rules of Civil Procedure ,
Filing Requirements ,
Jurisdiction ,
Motion to Dismiss ,
Personal Jurisdiction ,
Remand ,
Subject Matter Jurisdiction ,
Vacated
When a party files for bankruptcy, the Bankruptcy Code imposes an automatic stay of litigation against a debtor for claims arising prior to the commencement of the bankruptcy case. See 11 U.S.C. § 362(a). Where there is a...more
In a recent cross-border insolvency case, In re Agrokor d.d., 591 B.R. 163 (Bankr. S.D.N.Y. 2018), Judge Glenn of the United States Bankruptcy Court for the Southern District of New York recognized and enforced a...more
In a recent decision, In re B.C.I Fins. Pty Ltd. (In Liquidation), No. 17-11266, 2018 Bankr. LEXIS 1217 (Bankr. S.D.N.Y. Apr. 24, 2018), Judge Sean Lane granted a chapter 15 petition after rejecting a challenge to...more
5/18/2018
/ Australia ,
Bankruptcy Code ,
Breach of Duty ,
Chapter 15 ,
Choice-of-Law ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Fiduciary Duty ,
Intercompany Transactions ,
Jurisdiction ,
Liquidation
The Second Circuit recently issued an important decision on a “related to” jurisdiction case arising out of the Bernie Madoff Ponzi scheme. SPV Osus, Ltd. v. UBS AG, 2018 U.S. App. LEXIS 3088 (2d Cir. Feb. 9, 2018).
SPV...more