Cross Border Bankruptcy and Chapter 15 of the Bankruptcy Code
July 10, 2017
Like commerce in general, bankruptcies are not necessarily restricted by borders. A company that files for insolvency protection in the Caribbean, Europe or the Far East may also have assets or interests elsewhere, like New York or Miami. Under those circumstances, the debtor’s representative may need the assistance of the U.S. bankruptcy courts to achieve an efficient resolution of claims.
In such circumstances, it becomes necessary to be familiar with the Model Law on Cross-Border Insolvency promulgated by the United Nations Commission on International Trade Law and the Model Law’s American cousin, Chapter 15 of the U.S. Bankruptcy Code.
Read Otterbourg partner, Melanie Cyganowski's description of Chapter 15 here.