Nearing its 20th anniversary, chapter 15 of the Bankruptcy Code is an invaluable framework for coordinating cross-border bankruptcy cases involving foreign debtors that have assets located in the United States. It includes a...more
3/28/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Cayman Islands ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Foreign Bankruptcies ,
Investment Funds ,
Jurisdiction ,
Liquidation ,
Settlement Agreements
The foundation of chapter 15 of the Bankruptcy Code and similar legislation enacted by other countries to govern cross-border bankruptcy cases is "comity" and cooperation among U.S. and foreign courts. The importance of these...more
1/28/2022
/ Adversary Proceedings ,
Bankruptcy Code ,
Bankruptcy Court ,
Brazil ,
Chapter 15 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dismissals ,
Foreign Bankruptcies ,
Jurisdiction
U.S. courts have a long-standing tradition of recognizing or enforcing the laws and court rulings of other nations as an exercise of international "comity." It has been generally understood that recognition of a foreign...more
In cases under both chapter 15 of the Bankruptcy Code and its repealed predecessor, section 304, U.S. bankruptcy courts have routinely recognized and enforced orders of foreign bankruptcy and insolvency courts as a matter of...more
Cross-border bankruptcy cases filed in the U.S. under chapter 15 of the Bankruptcy Code on behalf of foreign businesses doubled during 2020 and are on pace to set another record-breaking year in 2021 (with more than 123...more