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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.


Kenneth David Kraft
Post date: Wednesday, September 30, 2015

An unprecedented filing leads to an unprecedented joint solution from the both the U.S. Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice -Commercial List supervising the Nortel liquidation in Canada and the U.S.

Post date: Wednesday, April 22, 2015

The U.S. Court of Appeals for the Second Circuit recently held that a bankruptcy court must conduct a § 363 review of a chapter 15 debtor’s sale of U.S. assets, even if the sale was previously approved by a foreign court.[1] Although it acknowledged that comity is an important consideration in a chapter 15 proceedings, the Second Circuit determined that § 1520(a)(2)[2] “acts as a brake or limitation on comity” by requiring bankruptcy courts to conduct the § 363[3] review.[4]

Post date: Monday, October 20, 2014

The Fall of OGX
Former billionaire Eike Batista’s oil firm OGX filed for bankruptcy protection in late October 2013 after OGX had defaulted on a $45 million bond payment earlier in the month.[1] On October 30th, 2013, OGX Petróleo e Gás Participações S.A. (“OGX Participações”)[2] and OGX Petróleo e Gás S.A. (“OGX Petróleo e Gás”), both Brazilian companies; OGX International GMBH (“OGX International”), an Austrian company; and OGX Austria GMBH (“OGX Austria”), also an Austrian company, filed for reorganization before the Fourth Business Court of Rio de Janeiro (RJ).

Post date: Monday, October 20, 2014

Editor's note:  Following is an article by Robin Darton of Tanner De Witt (an established, independent Hong Kong law firm), addressing issues in his home venue of Hong Kong. Robin is particularly well suited to the task,having practiced for over 20 years as a solicitor in Hong Kong in litigation and other contentious issues, with an emphasis on contentious insolvency and restructuring matters in the UK, Hong Kong and the Asia region. TAB

Post date: Monday, October 20, 2014

On June 6, 2014, the French Constitutional Court (Conseil constitutionnel) ruled on the question of whether a court should be entitled to convert a receivership proceeding into a winding-up proceeding on its own initiative.

Post date: Wednesday, July 30, 2014

Readers may be familiar with the continuing debates over universalism (one court and one insolvency law) vs. territorialism (many courts and many insolvency laws) that have dominated discussions of cross-border insolvencies in recent years.[1] Realizing that true universalism is an ideal that is unlikely to come to pass in the real world, universalists have generally embraced a modified universalism that acknowledges circumstances that make it proper and (practically and politically) necessary to recognize and protect certain local interests.

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

Mr. Francesco Spizzirri
Co-Chair
Audax Law
Toronto, ON
(416) 862-8329

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

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

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

Mr. Ken Kraft
Membership Relations Director
Dentons Canada LLP
Toronto, ON
(416) 863-4374

Mr. Kyle James Ortiz
Newsletter Editor
Togut, Segal & Segal LLP
New York, NY
(212) 594-5000

Mr. Ben Sewell
Newsletter Editor
Sewell & Kettle Lawyers
Sydney,
+61282510075

Mr. Randall Adam Swick
Special Projects Leader
Reid Collins & Tsai LLP
Austin, TX
(512) 647-6100

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