Buyers of assets through the bankruptcy court process seek comfort and solace in the entry of a sale order providing for the transfer of assets “free and clear” of all liabilities. Except for those liabilities expressly assumed by the buyer and new owner, the bankruptcy court order typically includes exacting and precise language transferring those assets, under the imprimatur of the United States Bankruptcy Court, free and clear of all liabilities.
A recent decision by the United States Bankruptcy Court for the Western District of Texas in In re Sanjel (USA) Inc.,et al., Case No. 16-50778-CAG (Bankr. W.D. Tex. July 29, 2016) explains that in a Chapter 15 case, the U.S. bankruptcy court will not always apply the law of the foreign jurisdiction to U.S. creditors and U.S.-based claims.
Doing business in the United States
Doing business in the United States 2021
I.Openness of U.S. markets to foreign investment
II.Direct or indirect market entry and choice of entity
III. Commercial contracting
IV.Labor and employment law considerations
VI.Intellectual property laws
VII. Export control and economic sanction laws
VIII. U.S. antitrust laws