Cross border insolvencies and financial restructurings are remarkably opaque considering we live in the Information Age. The mission of the Centre of Main Interest (the COMI) is to light some candles in the darkness and create a forum for further discussion. The Law Offices of Tally M. Wiener, Esq. are pleased to publish the COMI blog.
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Wednesday, April 1, 2015
Bahraini Bank Units File for U.S. Bankruptcy Protection
A group of investment vehicles owned by a Bahraini bank are seeking U.S. bankruptcy protection to shield more than $200 million from Saudi Arabia’s Ahmad Hamad Algosaibi & Bros.
Awal Finance Co., a subsidiary of Bahrain’s Awal Bank BSC, and a half dozen special purpose vehicles on Thursday filed for protection in U.S. Bankruptcy Court in New York under Chapter 15—the section of the bankruptcy code that deals with international insolvencies.
For more, see: http://www.wsj.com/articles/bahraini-bank-units-file-for-u-s-bankruptcy-protection-1426888598