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Fairchild Summary

In the recent decision, In re Petition of Dr. Eberhard Braun, in his Capacity as Insolvency Administrator for Fairchild Dornier GmbH, Case No. 02-52351-LMC, the bankruptcy court denied a motion to reconsider a motion seeking relief from an 11 U.S.C. §304 injunction.

European Law on Cross-border Insolvencies: Status of French Pract...

The EC Regulation1 on insolvency (Regulation) went into effect in May 2002 in all E.U. member states except for Denmark. The rules contained in the Regulation will have a significant impact on French practice in cross-border insolvency cases, especially in that the courts may have jurisdiction to open a main insolvency proceeding against a legal entity domiciled in the European Union.

Changes to Brazilian Consumer Credit Legislation

Brazilian Banking Law Consumer Defense Code for Bank Customers The Brazilian Central Bank (BACEN) has recently issued Resolution nº 2.878/01, which is already being called the "Consumer Defense Code for Banking Clients" (CDCB). In force since July 26, 2001, this Resolution, in short, rewrites in a more detailed manner and with added focus on the financial market, the rights already stated in Law nº 8.078/90 (Brazilian Consumer Defense Code CDC), related to transactions rendered to customers.

Developments Under Mexico’s Ley de Concursos Mercantiles del 2000

According to the Instituto Federal de Especialistas de Concursos Mercantiles's (“IFECOM”) Fifth Bi-annual Report presented on Dec. 3, 2002, only 63 cases have been filed in Mexico under the Ley de Concursos Mercantiles. These 63 cases involve 90 debtors: four individuals and 86 entities, approximately 55,500 creditors and NP$31,500 million in claims.