Introduction
On November 13, 2012, the U.S. Department of Labor (the “DOL”) issued a press release entitled “US Labor Department Recovers Nearly $220 Million for Madoff Victims.” On the same day New York Attorney General Eric T. Schneiderman (the “NYAG”) issued a press release entitled “A.G.
The New Jersey Appellate Court has recently ruled that a receiver can be sued for injuries sustained in a building under the receiver’s control. The case involved a dilapidated apartment building in Passaic and injuries sustained thirteen months after the receiver was appointed by judge overseeing the foreclosure case of the first mortgage holder. The receiver was charged with responsibility to collect rent; manage, insure and repair the premises; pay taxes and assessments; and “do all things necessary for the due care and proper management of the mortgaged premises.” Acco
Introduction
In the recent decision of Kenneth Krys and Joanna Lau (as Joint Liquidators of Fairfield Sentry Limited in Liquidation) and Stichting Shell Pension Funds, HCVAP 2011/036, the ECSC Court of Appeal provided some clarification of its decision in Westford Special Situations Fund Limited v Barfield Nominees Limited et al HCVAP No. 14 of 2010.
Introduction
This article sets out the potential impact in the BVI and Cayman of the much anticipated Supreme Court decision in Rubin v. Eurofinance SA [2012] UKSC 46, which was handed down on 24 October 2012. Rubin deals with the issue of whether orders made in Chapter 11 bankruptcy proceedings in the United States can be enforced as judgments of the English Courts.
COMPETING SETS OF RULES AND PRINCIPLES
Important clarification was provided today to the insolvency world as the UK Supreme Court in the conjoined appeals in Rubin and New Cap rejected the modified universalist doctrine that established common law rules as to the enforcement of foreign judgments do not (or should not) apply to insolvency orders.
On October 17, 2012, Back Yard Burgers, Inc.
On October 17, 2012, Satcon Technology Corporation and various of its subsidiaries (collectively, "Satcon") filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware. Satcon's subsidiaries include Satcon Power Systems, Inc., Satcon Electronics, Inc., Satcon Power Systems, LLC, Satcon International and Satcon Technology. As stated in Satcon's Declaration filed with the Delaware Bankruptcy Court (the "Decl."), Satcon provides "utility-grade po