The bankruptcy court was accorded wide discretion in deciding how to treat a $5.2 million loan that was neither disclosed to nor approved by the bankruptcy court.
Judge Vaughan explains why a foreign debtor isn’t required to have a presence in the U.S. before the debtor’s foreign representatives can win recognition under chapter 15.
The oversight of a distribution by a chapter 7 trustee (and the attendant expense) isn’t required when a debtor liquidates the assets in Subchapter V of chapter 11.