The application of U.S. laws to transactions and conduct outside of the U.S. has always been a topic of interest for U.S. and foreign persons and businesses alike. Section 541 of the U.S. Bankruptcy Code shows clear intent for the Code to be applied abroad, as it explicitly states that the bankruptcy estate includes all legal and equitable rights and interests of the debtor in property as of the commencement of the case, wherever located and by whomever held.

In May 2023, the Committee adopted a broad new description and mission statement. That is to provide a forum for the exchange of ideas related to the interrelationship between American and foreign insolvency laws, harmonizing American and foreign insolvency laws, the model laws promulgated by UNCITRAL related to insolvency proceedings including Ch.

Switzerland is a complex jurisdiction for foreign insolvency practitioners. A strict blocking statute and banking secrecy make it difficult to obtain information and to secure assets prior to the recognition of a foreign insolvency decree.

The Cayman Islands implemented the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (otherwise known as the “New York Convention”) via the Foreign Arbitral Awards Enforcement Act (1997 Revision) (the “Enforcement Act”). As such, arbitral awards made in any state that is a party to the New York Convention (“Convention Awards” can be recognised and enforced in the Cayman Islands under the Enforcement Act.

ABI’s International Committee (IC) is actively soliciting nominations for its Second Annual ABI International Matter of the Year Award. The details are set forth below.

Nomination Deadline: August 31, 2023.

Criteria:

Each submission should address how the matter (the “Matter”) satisfies the following criteria:

ABI’s International Committee (IC) is actively soliciting nominations for its Second Annual ABI International Committee Matter of the Year Award. The details are set forth below.

Nomination Deadline: August 31, 2023.

Criteria:

Each submission should address how the matter (the “Matter”) satisfies the following criteria:

The EU Directive on restructuring and insolvency [1] has imposed an obligation to Member States to introduce relevant changes in their legal regimes on restructuring plans, which can be implemented even if the entity is in “the likelihood of insolvency.” [2] The purpose of the EU Directive is to encourage companies to address insolvency problems at a very early stage so t

The EU Directive on restructuring and insolvency [1] has imposed an obligation to Member States to introduce relevant changes in their legal regimes on restructuring plans, which can be implemented even if the entity is in “the likelihood of insolvency.” [2] The purpose of the EU Directive is to encourage companies to address insolvency problems at a very early stage so t

After two years of being held virtually, ABI’s in-person Cross-Border Insolvency Program resumed on Nov. 14 in the Blank Rome LLP Conference Center in Manhattan. Thanks go to Evan Zucker and Blank Rome for hosting the conference.

First Annual ABI International Matter of the Year Award

The committee selected In re LATAM Airlines Group S.A., et al., as the winner of the First Annual ABI International Matter of the Year Award. The award is given to a matter that (1) involved the U.S.