On April 17, 2018, the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) issued a decision requiring CohnReznick LLP (“CohnReznick”) to produce documents requested by the foreign representatives (the “Foreign Representatives”) in the chapter 15 case of Platinum Partners Venture Arbitrage Fund (International) Limited (in
Chapter 15
Coming Soon to a Jurisdiction Near You: Streamlined Cross-Border Insolvency Proceedings
By Benjamin Wallen on
Posted in Bankruptcy
Globalization has led to a marked increase in international components to insolvency proceedings. Cross-border issues add a new layer of complexity to what is often a situation already fraught with obstacles. Courts and practitioners alike face additional difficulties communicating with other courts, resolving issues consistently in jurisdictions with different laws and policy objectives, and enforcing…
Section 1521(a)(7)’s Restrictions Found Inapplicable to State Law Fraudulent Conveyance Actions
By Jacob S. Frumkin on
Posted in Bankruptcy, Recent Developments
On March 23, 2017, the U.S. Bankruptcy Court for the Southern District of Florida (the “Court”) issued an opinion in the chapter 15 case of Banco Cruzeiro do Sul, S.A., a Brazilian bank (“BCSUL” or the “Debtor”), holding, among other things, that section 1521(a)(7) of the Bankruptcy Code does…
Second Circuit Refuses to Expand Scope of Chapter 15 of the Bankruptcy Code
By Jacob S. Frumkin on
Posted in Bankruptcy
On January 18, 2017, the U.S. Court of Appeals for the Second Circuit issued an opinion in the case of Trikona Advisers Limited v. Chugh, No. 14-975-cv, 2017 WL 191936 (2d Cir. Jan. 18, 2017), thwarting an attempt to expand the scope of Chapter 15 of Title 11 of the United States Code (the…
New Delaware Filing – Energy Coal S.p.A.
Posted in Recent Developments
Genova, Italy-based Energy Coal S.p.A., a subsidiary of Ice Holding Srl, has filed a chapter 15 petition in the United States Bankruptcy Court for the District of Delaware. Energy Coal is engaged in the trading of coal and other raw materials. The chapter 15 petition is available here: Energy Coal Filing.
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