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8 October 2024

Trending: Special Deference For Foreign Insolvency Proceedings Both In And Out Of Chapter 15

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In an article published in The International Scene column of the American Bankruptcy Institute's ABI Journal, Partners George Shuster and Benjamin Loveland discuss the various decisions that indicate a trend of US.
United States Insolvency/Bankruptcy/Re-Structuring

Several cases this year have demonstrated the continuing trend of U.S. courts' respect toward foreign insolvency proceedings. Recent decisions from the Third and Eleventh Circuits, Southern District of New York and other courts — each addressing various contours of chapter 15 of the U.S. Bankruptcy Code and U.S. courts' interactions with foreign insolvency generally — demonstrate openness to novel approaches to evaluating foreign proceedings in the U.S. These decisions are underpinned by a philosophical alignment of deference toward foreign insolvency proceedings.

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Originally published by American Bankruptcy Institute, 14 October 2024

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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