International

Asset Recovery and Insolvency: How to Unlock the Doors of the Swiss Vault

Switzerland is a complex jurisdiction for foreign insolvency practitioners. A strict blocking statute and banking secrecy make it difficult to obtain information and to secure assets prior to the recognition of a foreign insolvency decree.

The Global Reach of U.S. Bankruptcy Courts: The Real Impact of Bankruptcy Courts’ Orders Outside of U.S. Borders

The application of U.S. laws to transactions and conduct outside of the U.S. has always been a topic of interest for U.S. and foreign persons and businesses alike. Section 541 of the U.S. Bankruptcy Code shows clear intent for the Code to be applied abroad, as it explicitly states that the bankruptcy estate includes all legal and equitable rights and interests of the debtor in property as of the commencement of the case, wherever located and by whomever held.

New Member Spotlight

The International Committee community continues to grow! We welcome the following members to our committee:

Second Annual ABI International Matter of the Year Award

ABI’s International Committee (IC) is actively soliciting nominations for its Second Annual ABI International Matter of the Year Award. The details are set forth below.

Nomination Deadline: September 8, 2023.

Criteria:

Each submission should address how the matter (the “Matter”) satisfies the following criteria:

Asset Recoveries in Foreign Lands

This panel will discuss some of the more interesting aspects of the asset-recovery process as it relates to locating foreign assets (i.e., Russian yachts). The panelists also will focus on post-COVID-19 issues, including situations where banks were not monitoring collateral as closely as they should have been and are now having trouble locating said assets and selling them, particularly in international cases where the bankruptcy is abroad but the parties are seeking recognition in the U.S.

So We Own a Plane in Mexico: Asset Recovery and Cross-Border Insolvency

This panel of experts will discuss and analyze asset-recovery issues in cross-border insolvency situations.

Look Ahead To 2023: International Committee

On February 8, 2023, Evelyn Meltzer and Kyle Ortiz, co-chairs for the International Committee, co-hosted the 2023 Look Ahead with members of the Asset Sales Committee. Evelyn and Kyle discussed what the committee has been up to as well as future events and speaking and writing opportunities for committee members. Additionally, Evelyn and Kyle discussed hot topics in international insolvencies for 2023. 

International January 2023

ABI-Live: Anatomy of an Indian Insolvency Proceeding: The ABCs of India's IBC

Sponsored by ABI's International Committee. India has emerged as a leading insolvency jurisdiction since it enacted its new Insolvency and Bankruptcy Code (IBC) in late 2016. The IBC heralded a new insolvency process, enabling large corporations to reorganize and maximize value. In the six years since, more than 4000 cases have been filed and scores of important Indian companies have been successfully restructured.

Co-Chairs Corner

It is hard to believe how quickly 2022 has flown by. We wish you and your family a healthy, happy and prosperous new year filled, hopefully, with some international travels. The International Committee has indeed been busy; keep reading to hear all the amazing things we have been up to!!!