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:
Commercial Law League of America: Hot Issues in the Restructuring of a Health Care Industry Business
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American College of Bankruptcy/National Conference of Bankruptcy Judges: Current Developments in Cross-Border Practices
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American Institute of Certified Public Accountants: Solvency Considerations for Financial Advisors
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Ethics (2021 New York City Bankruptcy Conference)
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