Chapter 15 of the US Bankruptcy Code enables debtors that are already subject to a foreign insolvency proceeding to receive assistance from US courts in order to protect and administer their property located in the United States.
The turmoi l that rocked many commercial banks during the most recent recession should serve as a warning sign to savvy borrowers that they must be proactive and explore new financing opportunities, not only to address their own credit issues, but also to avoid potential problems with their existing lenders.
REGEN CAPITAL I, INC. v. UAL CORP. (February 18, 2011)
WHITELY v. MORAVEC (February 16, 2011)
BUSSON-SOKOLIK v. MILWAUKEE SCHOOL OF ENGINEERING (February 10, 2011)
As discussed in previous posts on this site, back in December the Second Circuit Court of Appeals issued a summary order that reversed the bankruptcy court’s confirmation of the reorganization plan (the “Plan”) of DBSD North America, f/k/a ICO North America (“DBSD”).
FOLLETT HIGHER EDUCATION GROUP v. BERMAN (January 21, 2011)
Judge Burton Lifland, the bankruptcy judge overseeing the liquidation proceedings of Bernard L.
Yes, but only if the government declines to intervene in the action. United States ex rel. Kolbeck v. Point Blank Solutions, Inc., 1:08-cv-1187 (E.D. Va.), recently addressed this issue.