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Stephen J. Shimshak, a partner at Paul, Weiss, Rifkind, Wharton & Garrison, and Christopher A. Jarvinen and Claudia R. Tobler, associates at the firm, discuss judicial development of Chapter 15, and the emergent themes of "rigidity" in access, yet "flexibility" in relief. Recent decisions have adopted a strict reading of the relevant statutes concerning what many thought would be a mechanical recognition process. The end result of these decisions may be the exclusion of many foreign debtors from Chapter 15. On the relief side, other rulings provide broad relief to foreign representatives, sometimes beyond the limits of domestic bankruptcy cases.
September 08, 2008 at 12:00 AM
1 minute read
Presented by BigVoodoo
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