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Nov 09, 2015

United States Bankruptcy Court for the Southern District of New York Identifies New Jurisdictional Hook to Provide Chapter 15 Relief to Foreign Debtors

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On October 28, 2015, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) issued a decision that significantly expands the jurisdictional bases that foreign issuers can rely upon to obtain relief in the United States under Chapter 15 of the Bankruptcy Code. In its decision, the Bankruptcy Court held that a New York choice of law provision and consent to New York court jurisdiction in the bond indenture of a foreign issuer was a sufficient property interest to establish jurisdiction for purposes of obtaining Chapter 15 relief in the Southern District of New York.

View full memo, United States Bankruptcy Court for the Southern District of New York Identifies New Jurisdictional Hook to Provide Chapter 15 Relief to Foreign Debtors

Authors and Contributors

Fredric Sosnick

Partner

Financial Restructuring & Insolvency

+1 212 848 8571

+1 212 848 8571

New York

Joel Moss

Partner

Financial Restructuring & Insolvency

+1 212 848 4693

+1 212 848 4693

New York

Solomon J. Noh

Partner

Financial Restructuring & Insolvency

+44 20 7655 5795

+44 20 7655 5795

London