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Liquidation Comity

Conyers

Cayman Islands Restructuring: Comity and Reciprocity

Conyers on

In the recent judgment In the Matter of GTI Holdings Limited delivered on 15 March 2022 , the Cayman Islands Grand Court reiterated the importance of principles of comity in cross-border insolvency matters and the central...more

Harris Beach PLLC

State Appellate Court Affirms Out-of-State Liquidation Order Not Entitled to Full Faith and Credit

Harris Beach PLLC on

A risk retention group (RRG) is a state-chartered insurance company that insures commercial businesses and government entities against liability risks, including medical malpractice. In 2017, Oceanus Insurance Company, RPG,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Second Circuit Allows Avoidance Actions Against Foreign Transferees in Madoff Proceeding

On February 25, 2019, the U.S. Court of Appeals for the Second Circuit vacated the bankruptcy court’s dismissal of avoidance actions brought by Irving Picard, the trustee (Trustee) for the liquidation of Bernard L. Madoff...more

Latham & Watkins LLP

Second Circuit Backs Foreign Clawback Claims in Madoff Bankruptcy Action

Latham & Watkins LLP on

The Second Circuit holds that the presumption against extraterritoriality and international comity do not bar recovery of purely foreign transfers. Key Points: ..The Second Circuit focused on the initial transfer from...more

Jones Day

Second Circuit Affirms Bankruptcy Court’s Nullification of Chapter 15 Debtor’s Sale of Claim Due to Woefully Inadequate Price

Jones Day on

In the March/April 2013 edition of the Business Restructuring Review, we reported on an opinion by the U.S. Bankruptcy Court for the Southern District of New York concluding that a chapter 15 debtor’s sale of claims against...more

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