International

Annual Spring Meeting 2016: Commercial Fraud/International

People and Assets on the Move Overseas: What You Need to Know to Hold Everything Still and Seize the Assets

Annual Spring Meeting 2015: Financial Advisors & Investment Banking and International Committees

Structuring Cross-Border Deals to Protect Creditor Interests

Second Circuit Prioritizes Plain Language of the Bankruptcy Code over Comity Principles

The U.S. Court of Appeals for the Second Circuit recently held that a bankruptcy court must conduct a § 363 review of a chapter 15 debtor’s sale of U.S. assets, even if the sale was previously approved by a foreign court.[1] Although it acknowledged that comity is an important consideration in a chapter 15 proceedings, the Second Circuit determined that § 1520(a)(2)[2] “acts as a brake or limitation on comity” by requiring bankruptcy courts to conduct the § 363[3] review.[4]

International Restructurings Through the Bankruptcy Code

The Business Reorganization Committee held a free committee wide call on Tuesday, September 23rd, at 4 pm ET. The topic was titled "Looking at International Insolvency/Restructurings Through the Bankruptcy Code and Beyond," and featured key speakers, including: Patrick Mohan (Moderator) of Reorg Research (Columbia, S.C.), Rachel Ehrlich Albanese of Akin Gump Strauss Hauer & Feld LLP (New York).

OGX and Jurisdiction: Questions Concerning Foreign Affiliates Under Brazilian Insolvency Laws

The Fall of OGX
Former billionaire Eike Batista’s oil firm OGX filed for bankruptcy protection in late October 2013 after OGX had defaulted on a $45 million bond payment earlier in the month.[1] On October 30th, 2013, OGX Petróleo e Gás Participações S.A. (“OGX Participações”)[2] and OGX Petróleo e Gás S.A. (“OGX Petróleo e Gás”), both Brazilian companies; OGX International GMBH (“OGX International”), an Austrian company; and OGX Austria GMBH (“OGX Austria”), also an Austrian company, filed for reorganization before the Fourth Business Court of Rio de Janeiro (RJ).

Views from Asia

Editor's note: Following is an article by Robin Darton of Tanner De Witt (an established, independent Hong Kong law firm), addressing issues in his home venue of Hong Kong. Robin is particularly well suited to the task,having practiced for over 20 years as a solicitor in Hong Kong in litigation and other contentious issues, with an emphasis on contentious insolvency and restructuring matters in the UK, Hong Kong and the Asia region. TAB

French Constitutional Court: Under Certain Circumstances, Commercial Courts Are Entitled to Ex Officio Convert Receivership Proceedings into Winding-Up Proceedings

On June 6, 2014, the French Constitutional Court (Conseil constitutionnel) ruled on the question of whether a court should be entitled to convert a receivership proceeding into a winding-up proceeding on its own initiative.

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