The following session took place during Cross-Border Insolvency Program in June 2015. Foreign representatives have begun using chapter 15 more creatively in seeking a broad array of relief; consequently, parties in the U.S. have increasingly been raising a number of challenges. In 2014, foreign representatives were presented with a number of objections to chapter 15 relief, including objections questioning the proper location of the foreign debtor’s center of main interests and the fairness of proceedings before the foreign court. This panel will discuss cases that address these issues, including In re Octaviar Admin. Pty Ltd., In re Suntech Power Holdings Co. Ltd. and In re Rede Energia, S.A., and the steps the foreign representatives in those cases took to maximize their likelihood of obtaining relief in the U.S. The panel will also discuss whether chapter 15 recognition is a prerequisite to seeking relief in a U.S. court, and will analyze the split of authority on that issue. All sessions from this conference can be accessed at https://cle.abi.org/.
Speakers:
Howard Seife, Moderator
Chadbourne & Parke LLP; New York
Hon. Shelley C. Chapman
U.S. Bankruptcy Court (S.D.N.Y.); New York
Keiran W. Hutchison
Ernst & Young; Grand Cayman, Cayman Islands
Mark McDonald
Grant Thornton (BVI) Ltd.; Tortola, BVI
Ronald J. Silverman
Hogan Lovells US LLP; New York
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.