Recognition Under Chapter 15

The U.S. Bankruptcy Court for the Southern District of New York recently held in two related cases under Chapter 15 of the U.S. Bankruptcy Code involving failed hedge funds that the mere presence of a registered office in the Cayman Islands, without 'pertinent' nontransitory economic activity in the Cayman Islands, was insufficient to recognize Cayman liquidation proceedings as 'main' or 'nonmain' and therefore the court denied relief under Chapter 15. This article offers commentary and practice points relating to Chapter 15 and these cases.

20 minute read November 27, 2007 at 07:44 AM

Ken Coleman And Daniel Guyder

The U.S. Bankruptcy Court for the Southern District of New York recently held in two related cases under Chapter 15 of the U.S. Bankruptcy Code involving failed hedge funds ' Bear Stearns High-Grade Structured Credit Strategies Master Fund, Ltd.

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Recognition Under Chapter 15

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Real Property Law

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California’s AI Transparency Stack: From State Obligation to Adoption Strategy