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Examinations by foreign representatives in cross border insolvency

The Federal Court decision of Crumpler (as liquidator and joint representative) of Global Tradewaves Ltd (a company registered in the British Virgin Islands) v Global Tradewaves (in liquidation), in the matter of Global Tradewaves Ltd (in liquidation)[2013] FCA 1127 provides an illustrative example of the way that cross border insolvency recognition can be used to aid a foreign administration.

Facts

Australia, British Virgin Islands, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Liquidation
Factors that will lead a court to grant an extension to a convening period

The recent Federal Court of Australia (Court) decision Hird, in the matter of Allmine Group Limited (Administrators Appointed) (Receivers and Managers Appointed) [2013] FCA 748 involved an application for an extension to the convening period.

Facts

Australia, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Holding company, Corporations Act 2001 (Australia), Federal Court of Australia
Protecting trademark licensee’s right to continued use of trademark when licensor declares bankruptcy

In the case of In re: Exide Technologies, decided on June 1, 2010, the US Court of Appeals for the Third Circuit reversed two lower court decisions and held that a 1991 agreement between Exide Technologies and EnerSys Delaware Inc., which included a license to EnerSys for use of the “EXIDE” trademark, is not an executory contract that can be rejected by Exide in bankruptcy proceedings.

USA, Insolvency & Restructuring, Litigation, Trademarks, Mayer Brown, Bankruptcy, Debtor, Breach of contract, Debtor in possession, US Code, United States bankruptcy court, Third Circuit