Recently, the judges of the Bankruptcy Court of the Southern District of New York issued three decisions addressing Chapter 15 the United States' adoption of the Model Law on Cross Border Insolvency (Model Law).
In re Avanti Communications Group PLC, 18-10458 (9 April, 2018), the Court found that the principles of comity justified enforcing a UK Scheme of Arrangement that released non-filed US affiliates from their guarantees.
Recent Decisions Pertaining To Chapter 15
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