International Committee


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.

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

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.

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

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.


Mr. Adam D. Crane
Baker & Partners
George Town, null
(345) 745-3651

Mr. Kenneth Kraft
Dentons Canada LLP
Toronto, ON
(416) 863-4374

Mr. Adam Swick
Communications Manager
Akerman LLP
Austin, TX
(737) 999-7103

Ms. Jennifer Jenkins
Education Director
British Virgin Islands,
(284) 852-1709

Mr. Charles Phiri
Membership Relations Director

Mr. Simon Eickmann
Newsletter Editor
PLUTA Management GmbH
Munich, other

Mr. Evan J. Zucker
Special Projects Leader
Blank Rome LLP
New York, NY
(212) 885-5207

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