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International Committee


Post date: Thursday, May 15, 2014

A recent decision by the Second Circuit Court of Appeals in Drawbridge Special Opportunities Fund LP v. Barnet,[1] which found that the bankruptcy court should not have granted chapter 15 recognition to the foreign insolvency proceeding of an Australian company, adds to the growing body of recent case law evidencing that courts will evaluate the relief a foreign representative seeks under the established standards and requirements applicable to cases under other chapters of the Bankruptcy Code.

Post date: Sunday, September 11, 2011

German corporate bankruptcy law will soon undergo a major reform when the proposed Gesetz zur weiteren Erleichterung der Sanierung von Unternehmen (ESUG, or the Company Restructuring Facilitation Act) passes through legislation.

Post date: Saturday, September 10, 2011

A new law recently published in Brazil will facilitate the making of new investments with limited liability. Federal Law No. 12,441, enacted on July 11, 2011 (Law 12,441), amended certain provisions of the Brazilian Civil Code (Federal Law No.

Post date: Tuesday, August 02, 2011

On April 19, 2011, the High Court of England and Wales heard an application for the sanction of a scheme of arrangement for Rodenstock GmbH, a solvent German company. Two days later, the court entered an order sanctioning the scheme, and indicating that Mr. Justice Briggs’ reasoning would be provided in a reserved judgment.

Tally M. Wiener
Post date: Saturday, November 06, 2010

On June 14, 2010, the joint liquidators of Fairfield Sentry Ltd.—the largest Madoff “feeder fund”—filed a chapter 15 petition with the U.S. Bankruptcy Court for the Southern District of New York seeking recognition of the fund’s British Virgin Islands (BVI)-based insolvency proceedings.

Post date: Friday, November 05, 2010

One of the by-products of the Lehman insolvency is an increased focus on client money protection. The decision of Briggs J in the Lehman case concerning client moneys, reported as Lehman Brothers International (Europe) (in administration) v. CRC Credit Fund Limited & Ors, [2009] EWHC 3228, highlights a number of deficiencies in the current regime.

Post date: Tuesday, November 02, 2010

The Basel Committee on Banking Supervision may be most widely known as the originator of the “Basel Capital Standards,” “Basel II” and “Basel [III].” They provide guiding principles for capital for credit institutions (principally deposit-taking institutions) and related actors in the organized and regulated financial markets. The committee traces its origins largely to bank failures.

Post date: Monday, November 01, 2010

At one time, insolvency proceedings were primarily confined to one jurisdiction. However, in the age of expanding globalization, corporate insolvencies may now involve businesses and assets in multiple jurisdictions.

Post date: Monday, March 01, 2010

The U.S. Bankruptcy Court for the District of Delaware recently granted recognition under chapter 15 of the Bankruptcy Code to the foreign liquidation proceedings of Saad Investments Finance Co. (No. 5) Ltd. (SIFCO 5).[1] The debtor is incorporated as an “exempted company” under the Cayman Companies Law.

Richard J. Corbi
Post date: Monday, March 01, 2010

Recently, the US Bankruptcy Court for the Southern District of New York, in In re Metcalfe & Mansfield Alternative Investments, held that broad nondebtor, third-party releases previously approved as part of foreign restructuring proceedings under the Canadian Companies’ Creditors Arrangement Act (CCAA) where the restructuring plan was adopted by 96 percent of its creditors would be


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

Mr. Rafael X. Zahralddin-Aravena
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
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

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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