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Second Circuit ruling appears to limit ability of U.S. Bankruptcy Courts to assist foreign debtors

 

 

USA, Insolvency & Restructuring, Litigation, Duane Morris LLP, Debtor, Discovery, US Code, Title 11 of the US Code, Second Circuit, United States bankruptcy court
Commentary on Caouette v. Boutin-Jacques (Succession de) – non-compliance with formalities and good faith in the liquidation of a succession

INTRODUCTION 

In theory, when liquidating a succession, publication formalities must be observed so that the various creditors can present themselves and claim their due. This formality also gives the successors an overall view of the assets and liabilities of the succession before deciding whether or not to accept it.

Canada, Insolvency & Restructuring, Litigation, Fasken, Debt, Liquidation, Good faith