Jurisdiction, Bankruptcy Code, Debt Restructuring

New York Bankruptcy Court Recognizes English Scheme of Arrangement Proceeding Under Chapter 15 Despite Concerns of Improper COMI...

Jones Day on 5/27/2025

Approaching its 20-year anniversary, chapter 15 of the Bankruptcy Code has proven to be an invaluable tool for facilitating cross-border bankruptcy and insolvency cases. As foreign debtors have increasingly relied on chapter...more

Chapter 15 Ruling by New York Bankruptcy Court Recognizes Debtor's "Synthetic" Restructuring

Holland & Knight LLP on 5/8/2025

Judge Michael Wiles of the U.S. Bankruptcy Court for the Southern District of New York issued a decision earlier this year that had the effect of recognizing under Chapter 15 of the U.S. Bankruptcy Code an English Scheme of...more

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

Latham & Watkins LLP on 6/20/2023

Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more

Cross-Border Recognition: Hong Kong Schemes and the Compromise of Foreign Law-Governed Debt

Latham & Watkins LLP on 11/10/2022

Judicial comments cast doubt on the ability to compromise US law-governed debt effectively based on Chapter 15 recognition alone. A recent first instance decision in Hong Kong has highlighted an important...more

Home Thoughts, From Abroad - Restructuring Recognition (and Recognition of Restructuring)

Walkers on 10/6/2022

Where a company’s liquidation is necessary, deciding who or where is best placed to administer an orderly wind down for the benefit of creditors can be difficult: the shortfall of assets in an insolvency will highlight...more

Chapter 15 Update: U.S. Bankruptcy Court Refuses to Enforce Order Approving Indonesian Debt Restructuring Plan Due to Third-Party...

Jones Day on 7/22/2021

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

Weatherford: The U.S. and Beyond

Akin Gump Strauss Hauer & Feld LLP on 3/9/2020

Akin Gump lawyers who advised the Ad Hoc Group of holders of Weatherford's $7.4 billion unsecured notes explain how the restructuring was agreed and implemented using three parallel in-court procedures Weatherford is one...more

Third Circuit Affirms Rulings That Distributions to TCEH First Lien Creditors Are Governed by the Bankruptcy Code Rather Than...

Cadwalader, Wickersham & Taft LLP on 6/25/2019

On June 19, 2019, the United States Court of Appeals for the Third Circuit (the “Third Circuit”) affirmed a ruling of the United States District Court for the District of Delaware (the “District Court”) dismissing challenges...more

Second Circuit Affirms Dismissal of Chapter 15 Appeal by Purported Shareholder on Standing Grounds

Orrick - Distressed Download on 4/2/2019

In a March 19, 2019 summary order, the U.S. Court of Appeals for the Second Circuit affirmed the district court’s dismissal of a purported shareholder’s appeal challenging the chapter 15 recognition of a Cayman Islands...more

Jurisdiction › Bankruptcy Code › Debt Restructuring

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