Follow Us

Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Bankruptcy International Law Litigation

U.S. Bankruptcy Court Denies Chapter 15 Recognition to a Case on the Isle of Man

Cases interpreting Chapter 15 of the Bankruptcy Code after it was enacted in 2005 often addressed basic issues, such as whether a foreign debtor must have property in the U.S to file a case there. But even when there’s no property in the U.S., there’s an easy remedy: the foreign administrator can deposit a retainer payment with its U.S. law firm.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Cases interpreting Chapter 15 of the Bankruptcy Code after it was enacted in 2005 often addressed basic issues, such as whether a foreign debtor must have property in the U.S to file a case there. In the Second Circuit, for instance, the answer is yes. But even when there’s no property in the U.S., there’s an easy remedy: the foreign administrator can deposit a retainer payment with its U.S. law firm.

To continue reading,
become a free ALM digital reader

Benefits include:

*May exclude premium content

Read These Next