Two recent cases out of the Third Circuit and the Southern District of New York highlight some of the developing formulas US courts are using when engaging with foreign debtors. In a case out of the Third Circuit, Vertiv v....more
Manley Toys Limited once claimed to be the seventh largest toy company in the world. Due to ongoing litigation and declining sales, it entered into a voluntary liquidation in Hong Kong. On March 22, 2016, the debtor’s...more
5/16/2018
/ Bad Faith ,
Chapter 15 ,
Collective Actions ,
Commercial Bankruptcy ,
Concurrent Litigation ,
Corporate Misconduct ,
Debtors ,
Foreign Bankruptcies ,
Hong Kong ,
Insolvency ,
Judgment Creditors ,
Liquidation ,
Public Policy
As has been widely reported, over the last several years Takata Corporation and its various worldwide subsidiaries (together “Takata”) have been involved in a multitude of governmental investigations, class actions and...more
2/1/2018
/ Automobile Recall ,
Bankruptcy Code ,
Chapter 11 ,
Chapter 15 ,
Class Action ,
Constitutional Challenges ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Due Process ,
Foreign Bankruptcies ,
Japan ,
Multi-Jurisdictional Litigation ,
Multidistrict Litigation ,
Proof of Claims ,
Public Policy ,
Takata
The Bankruptcy Court of the Southern District of New York recently addressed objections to the recognition of a Russian bankruptcy case as a foreign main case under Chapter 15 of the U.S. Bankruptcy Code and to the...more
10/16/2017
/ Acquisitions ,
Chapter 15 ,
Commercial Bankruptcy ,
Conflicts of Interest ,
Corporate Restructuring ,
Creditors ,
Foreign Bankruptcies ,
Foreign Judgments ,
Insolvency ,
Legal Representatives ,
Personal Finances ,
Public Policy ,
Russia