A recent Bankruptcy Court decision granted recognition to a Mexican concurso mercantile and gave full force and effect to a Mexican concurso plan that contained nonconsensual third-party releases....more
3/17/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Cross-Border ,
Debtors ,
Harrington v Purdue Pharma L P ,
Insolvency ,
Mexico ,
SCOTUS
The U.S. Supreme Court’s decision in Purdue holds that a chapter 11 plan may not release non-debtors from third-party claims unless an affected claimant consents.
On June 27, 2024, the U.S. Supreme Court issued a...more
In the Eleventh Circuit (In re Al Zawawi), section 109(a)’s debtor eligibility requirements do not apply to chapter 15 cases, reinforcing a split between the Second and Eleventh Circuits.
The Eleventh Circuit held that...more
A recent Bankruptcy Court decision indicates that Rule 2004—a powerful information-gathering tool that has long been utilized by foreign representatives in chapter 15 cases—may also be used by creditors in appropriate...more
Although bankruptcy courts frequently grant chapter 15 recognition to proceedings initiated by Cayman provisional liquidators, recognition is not automatic.
Instead, in considering a petition for recognition of a Cayman...more