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District court holds that a bankruptcy action’s automatic stay, and the bankruptcy's court's power to enjoin violations of the stay, applied extraterritorially

Sec. Investor Prot. Corp. v. Bernard L. Madoff Inv. Secs., 474 B.R. 76 (2012)

The trustee for the Securities Investor Protection Act ("SIPA") liquidation of Bernard L. Madoff Investment Securities LLC ("BLMIS") filed a complaint in the bankruptcy court against Maxam Absolute Return Fund Ltd. ("Maxam"), seeking the return of about $100 million distributed to Maxam by BLMIS.  Maxam answered the complaint and then sued the trustee in the Cayman Islands seeking a declaration that it was not required to return the money. 

USA, Insolvency & Restructuring, Litigation, Baker McKenzie, Bankruptcy, Debtor, Injunction, Extraterritoriality
Bankruptcy court declines to accord comity to reorganization plan approved by Mexican court

In re Vitro, S.A.B. de C.V., No. 11-33335-HDH-15 (Bankr. N.D. Tex. June 13, 2012)

USA, Insolvency & Restructuring, Litigation, Baker McKenzie, Bankruptcy, Debtor, Comity, Title 11 of the US Code