New York Bankruptcy Court Rejects Challenge to Barnet Rule Permitting Foreign Debtors to Obtain Chapter 15 Recognition With Only Minimal U.S. Assets -
Court disagree over whether, to be eligible for relief under chapter 15...more
12/8/2025
/ Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Cross-Border Transactions ,
Debtors ,
Environmental Litigation ,
Fraudulent Transfers ,
Insolvency ,
Nunc Pro Tunc ,
Reorganizations ,
Restructuring ,
Section 547 ,
Stays
As chapter 15 of the Bankruptcy Code reaches its 20th anniversary, the volume of chapter 15 cases has increased significantly, and chapter 15 jurisprudence has rapidly matured. Even so, certain important issues are still...more
12/5/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Commercial Bankruptcy ,
Creditors ,
Cross-Border ,
Cross-Border Transactions ,
Debtors ,
Foreign Bankruptcies ,
Insolvency ,
Jurisdiction ,
Reorganizations
U.S. Bankruptcy and appellate courts have long wrangled over whether the provisions of the Bankruptcy Code apply extraterritorially to permit, for example, enforcement of the automatic stay to creditor collection efforts...more
9/24/2025
/ Appeals ,
Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Code Section 547(b) ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Creditors ,
Cross-Border Transactions ,
Debtors-in-Possession ,
Extraterritoriality Rules ,
Restructuring
U.S. Bankruptcy and appellate courts have long wrangled over whether the provisions of the Bankruptcy Code apply extraterritorially to permit, for example, enforcement of the automatic stay to creditor collection efforts...more
9/22/2025
/ Bankruptcy Appeals ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border Transactions ,
Debtors-in-Possession ,
Extraterritoriality Rules ,
Fraudulent Transfers ,
Insolvency ,
Safe Harbors ,
Section 546(e)
Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more
3/31/2025
/ Assignments ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Credit Agreements ,
Debt Restructuring ,
Debtors-in-Possession ,
Equitable Mootness ,
Financial Distress ,
Foreign Bankruptcies ,
Indemnification Clauses ,
Restructuring
"Comity" is a principle of jurisprudence whereby, under appropriate circumstances, one country recognizes within its borders the legislative, executive, or judicial acts of another nation. Many recent court rulings have...more
3/25/2025
/ Bankruptcy Court ,
Breach of Contract ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Dispute Resolution ,
Foreign Bankruptcies ,
Foreign Jurisdictions ,
Insolvency ,
Jurisdiction ,
Litigation Strategies ,
New Jersey ,
Singapore
The Year in Bankruptcy: 2024 -
A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative...more
2/4/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Debtors ,
Insolvency ,
Restructuring
It is generally well understood that an order of a U.S. bankruptcy court recognizing a debtor's foreign bankruptcy case as a "main" proceeding under chapter 15 of the Bankruptcy Code triggers the automatic stay preventing...more
1/31/2025
/ Adversary Proceedings ,
Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 15 ,
Creditors ,
Cross-Border Transactions ,
Debtors ,
Foreign Bankruptcies ,
Insolvency ,
Reorganizations
It is generally recognized that an order of a U.S. bankruptcy court recognizing a debtor's foreign bankruptcy proceeding as a "main" proceeding under chapter 15 of the Bankruptcy Code triggers the automatic stay preventing...more
The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more
8/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Trustees ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debt Restructuring ,
Debtors ,
Trustees ,
U.S. Treasury
Courts disagree over whether a foreign bankruptcy case can be recognized under chapter 15 of the Bankruptcy Code if the foreign debtor does not reside or have assets or a place of business in the United States. In 2013, the...more
In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more
6/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consumer Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Debtors-in-Possession ,
Estate Claims ,
FDIC ,
Mootness
The Bankruptcy Code bars certain individuals or entities from filing for bankruptcy protection, generally because they do not reside or have a place of business or property in the United States, fail to satisfy certain debt...more
6/5/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Cayman Islands ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Chapter 7 ,
Chapter 9 ,
Commercial Bankruptcy ,
Debtors ,
FDIC ,
Foreign Bankruptcies ,
Foreign Banks ,
International Banks ,
Liquidation ,
Silicon Valley
"Comity" is a principle of jurisprudence whereby, under appropriate circumstances, one country recognizes within its borders the legislative, executive, or judicial acts of another nation. Many recent court rulings have...more
Determining a foreign debtor's "center of main interests" ("COMI") for purposes of recognizing a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code can be problematic in cases...more
Health Care Provider Bankruptcy Update: Patient Care Ombudsman Not Necessary In Every Health Care Business Bankruptcy Case -
Recent headlines have starkly illuminated the headwinds facing health care providers struggling...more
12/12/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Trustees ,
Banks ,
Chapter 11 ,
Chapter 7 ,
Chapter 9 ,
Corporate Restructuring ,
Debtors ,
Health Care Providers ,
Healthcare ,
Long Term Care Facilities ,
Non-Debtors ,
Ombudsman ,
Patients ,
Substantive Consolidation
In most cases seeking recognition of a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code, the foreign debtor's "foreign representative" has been appointed by the foreign court or...more
12/12/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border ,
Debtors ,
Debtors-in-Possession ,
Foreign Banks ,
Legal Representatives ,
New York ,
Power of Attorney ,
Trustees