International Committee

ABI Committee News

Making Sense of Jurisdictional Chaos: Chapter 15 Protects the Corporate Group

Written by: Ken Coleman
Allen & Overy LLP; New York

Lisa J.P. Kraidin
Allen & Overy LLP; New York

Amélie D. Baudot
Allen & Overy LLP; New York

Jurisdictional battles are not inevitable when assets and liabilities span borders. Notwithstanding some criticism of the rigid application of standards, chapter 15 of the U.S. Bankruptcy Code has proved to be a flexible and effective tool for cross-border restructuring since its enactment in 2005.[1] A popular misconception is that a chapter 15 ancillary case is not a realistic option for a corporate group with a material U.S. presence and that recognition, if obtained, leaves the group exposed during the critical period between filing and recognition. In fact, corporate groups with significant U.S. operations have used the plenary-ancillary model to obtain recognition in a single jurisdiction (despite varying places of incorporation, operation and asset location) and a great deal of the relief available under chapter 11.

Read the full article.


Committee Session at ABI's 21st Annual Winter Leadership Conference

ABI's 21st Annual Winter Leadership Conference will take place Dec. 3-5 at the gorgeous La Quinta Resort & Club in La Quinta, Calif. This year's conference will offer insights from some of the top insolvency and restructuring experts on issues confronting the profession in 2010.

The International Committee will present a session entitled "Global Crisis: An Essential International Update" on Saturday, Dec. 5 at 9:30 a.m. Luis Salazar of Greenberg Traurig, LLP in Miami will moderate. Panelists will include Ian Williams of Bryan Cave LLP in London, Paul Leake of Jones Day in New York and Ronald J. Silverman of Bingham McCutchen LLP in New York. Register today!


Florida International University Law Review Accepting Articles

Florida International University is currently soliciting articles for its Fall/Winter 2009 Law Review on emerging issues in bankruptcy law. Example topics include how bankruptcy is changing due to the financial crisis, how bankruptcy law is applied in your jurisdiction, cross-border insolvency issues, or any other issue in bankruptcy law that you find of interest. Authors should contact Joseph Van de Bogart, Executive Symposium Editor, at josephvandebogart@gmail.com.