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Post date: Friday, December 16, 2016

Although 2016 has lacked the massive, transnational bankruptcies that the Great Recession gave us, it has provided its own poignant reminders of how interconnected countries and economies can be. The outcome of the Brexit vote caused waves as companies tried to figure out how, or if, they could invest in the EU and the U.K. in the future. The outcome of the U.S.

Post date: Tuesday, August 16, 2016

[1]Under chapter 15 of the Bankruptcy Code, recognition of a foreign proceeding is required to obtain a stay of proceeding against the property of the foreign debtor located in the United States, to entrust such property to the representative of the foreign debtor, and to receive other important protections and rights.

Post date: Tuesday, August 16, 2016

n what is often viewed a rudimentary inquiry, recognition of foreign insolvency proceedings under chapter 15 can be a closely scrutinized affair. In In re Creative Finance Ltd. (In Liquidation), 543 B.R. 498 (Bankr. S.D.N.Y. 2016), Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York dismissed a chapter 15 case after concluding that the debtors’ “Center of Main Interests” (“COMI”) did not change to the British Virgin Islands (“BVI”) — the debtors’ letterbox jurisdiction and where the initial liquidation was filed.

Post date: Thursday, July 07, 2016

This article outlines the legislative framework behind and briefly describes the process of a bankruptcy proceeding,[1] the Canadian equivalent of a chapter 7 filing in the U.S.


Salene Mazur Kraemer, MBA, CTA
Post date: Thursday, March 10, 2016

On Nov. 13, 2015, in the U.S. Bankruptcy Court for the Southern District of New York, Judge Glenn issued a memorandum opinion in In re Vivaro Corp., et al.[1] with the following rulings: (1) a claim objection against a foreign entity may be served by U.S.

Post date: Tuesday, December 15, 2015

As the U.S. economy continues to limp along, six years after the official end of the Great Recession, it has become painfully clear that the world economy is highly interdependent. The ability of any one country to improve its own lot is limited by the conditions in other countries and the actions (or lack of actions) being taken in those countries.


Mark G. Douglas
Post date: Thursday, November 05, 2015

Europe has struggled during the last several years to triage a long series of critical blows to the economies of the 28 countries that comprise the European Union, as well as the collective viability of the 19 eurozone economies. Here we provide a snapshot of some recent changes implemented

Post date: Friday, October 09, 2015

Greetings! Welcome to the October newsletter for the International Committee. We trust you will find it informative and useful.

Post date: Friday, October 09, 2015

The oil boom is over. This is not an earth-shattering statement, given that we are now nearly a year into the precipitous price collapse of oil, which began in November 2014, with the price for a barrel of WTI crude oil falling from the $100 region to the $40-$50 range recently.

Post date: Friday, October 09, 2015

A recent foreign recognition of a bankruptcy proceeding case out of Nova Scotia, Canada, has brought to light the situation where a Canadian company moves to the U.S., seeks protection under chapter 11 of the U.S. Bankruptcy Code, and then seeks to impose that stay on creditors from its former home. Not surprisingly, it didn’t get very far with the Canadian court.

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Mr. E. Patrick Shea
Co-Chair
Gowling WLG (Canada) LLP
Toronto, ON
(416) 369-7399

Mr. Rafael X. Zahralddin-Aravena
Co-Chair
Elliott Greenleaf
Wilmington, DE
(302) 384-9400

Mr. M. Shane Johnson
Communications Manager
Porter & Hedges, LLP
Houston, TX
(713) 226-6000

Mr. Joshua Pichinson
Communications Manager
AgencyIP
Santa Clara, CA
(650) 454-8001

Mr. Joshua M. Fried
Education Director
Pachulski Stang Ziehl & Jones LLP
San Francisco, CA
(415) 263-7000

Mr. Francesco Spizzirri
Education Director
Audax Law
Toronto, ON
(416) 862-8329

Mr. Ben Sewell
Membership Relations Director
Sewell & Kettle Lawyers
Sydney,
+61282510075

Ms. Jamie R. Netznik
Newsletter Editor
Mayer Brown LLP
Chicago, IL
(312) 701-8741

Ms. Oksana Koltko Rosaluk, Esq.
Newsletter Editor
DLA Piper
Chicago, IL
(312) 368-3974

Mr. Kyle James Ortiz
Special Projects Leader
Togut, Segal & Segal LLP
New York, NY
(212) 594-5000

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