Navigating Cross-Border Insolvencies: Balancing Efficiency and Eligibility

Finance and restructuring partner Richard Bernard and associate Roya Imani coauthored an article for the New York Law Journal titled “Navigating Cross-Border Insolvencies: Balancing Efficiency and Eligibility,” which explores Chapter 15 of the Bankruptcy Code and challenges faced by United States debtors aiming to qualify for Chapter 15 recognition.

Bernard and Imani provide an overview of Chapter 15, which allows U.S. bankruptcy courts to grant recognition to a liquidation or restructuring proceeding pending in another nation. The authors also discuss international comity, requirements of Chapter 15, and whether there really a foreign proceeding as to the U.S. companies.

The full article is available for New York Law Journal subscribers.