Most practitioners are familiar, to varying degrees, with Chapters 7, 11, and 13 of the Bankruptcy Code.
Chapter 15 Recognition Extends to Canadian Reverse Vesting Transaction and Releases
As the costs of U.S. bankruptcy cases have increased, and relief such as obtaining nonconsensual third-party releases has been limited by court rulings, restructuring specialists have begun to look to foreign restructurings’ use of Chapter 15 as an ancillary proceeding to implement certain corporate restructurings.
By
Andrew C. Kassner and Joseph N. Argentina Jr.
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