Splits and Confounding Issues Destined for the Supreme Court
Federal Common Law Doesn’t Define a Business Trust Eligible for Chapter 11
Recent Supreme Court authority supports the conclusion by Delaware’s Judge Sontchi that law from the jurisdiction of incorporation, not federal common law, determines what is or isn’t a business trust eligible for chapter 11.
Court:
American College of Bankruptcy/National Conference of Bankruptcy Judges: Current Developments in Cross-Border Practices
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