Cross-Border Insolvency: Chapter 15 and Avoidance Actions under Foreign Law

08/09/2010

In a case of first impression, the United States Court of Appeals for the Fifth Circuit overruled the decisions of the United States Bankruptcy Court and the United States District Court for the Southern District of Mississippi and held that a chapter 15 proceeding may be used to pursue foreign law avoidance actions against defendants and assets in the United States.

Excerpted from Bloomberg Law Reports - Bankruptcy, Vol. 4, No. 32, August 9, 2010 © Bloomberg Finance L.P. 2010. Originally published by Bloomberg Finance LP. Reprinted by permission. The full article appears in the PDF below.

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