Counter

Thursday, December 12, 2013

New ruling by a United States Court of Appeals will change practices under Chapter 15 of the Bankruptcy Code

Have you noticed that some court rulings are written about over and over, while others - that have more far reaching implications - receive little attention?

For example, a ruling handed down by a United States Court of Appeals this month will change practices under Chapter 15 of the Bankruptcy Code.  Basically, assistance of American bankruptcy courts will be denied to representatives of bankrupt foreign companies seeking assistance in the United States when they cannot establish that there is a domicile, place of business, or property in the United States.  It is possible to view the ruling as a clarification of existing law though I am sure it will come as a surprise to many insolvency practitioners, especially those based outside of the United States.

Have you read this ruling or about it?  

No comments:

Post a Comment