- 11 U.S.C.
In re JSC BTA Bank
Aug
23
2010
Ruling
Ongoing Swiss arbitration did not violate the stay ordered when an action the debtor filed in Kazakhstan was recognized as a foreign main proceeding.
Procedural posture
The bankruptcy court issued an order in March 2010 which recognized an action that debtor, a foreign bank, filed in the Specialized Financial Court of Almaty City, Republic of Kazakhstan, as a foreign main proceeding under chapter 15 of the U.S. Bankruptcy Code. In July 2010, the debtor's representative asked the court to issue an order holding the Swiss branch of a French bank in contempt for violating the court's order and staying arbitration.
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Court
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