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§ 1502(4)

Poymanov, In re

Ruling
Russian insolvency proceeding was entitled to recognition as a "foreign main proceeding."(Bankr. S.D.N.Y.)
Issue(s)
Definitions; “Foreign Main Proceeding.”

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Consumer opinion summary, case decided on July 31, 2017 , LexisNexis #0917-023

In re Commercial V.H. S.A. de C.V.

Ruling
Mexican insolvency proceeding recognized as foreign main proceeding over objection on public policy grounds.
Procedural posture

Before the court was a contested application to recognize a chapter 15 foreign proceeding and the foreign representative. An objection was filed by two defendants in a pending action in a state court.

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Commercial opinion summary, case decided on September 13, 2012 , LexisNexis #1012-067

In re Millennium Global Emerging Credit Master Fund Ltd.

Ruling
Foreign main proceeding recognized where there was no evidence of a center of main interest in any other location.
Procedural posture

Petitioner liquidators of debtors in a foreign insolvency proceeding asserted that Bermuda was the center of main interests (COMI) of the debtors within the meaning of 11 U.S.C.S. § 1502(4) and that the insolvency proceeding was properly brought in Bermuda. The liquidators petitioned for recognition of the proceeding as a foreign main proceeding, and an objector opposed the petition on the ground that Bermuda was not the debtors' COMI.

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Commercial opinion summary, case decided on August 26, 2011 , LexisNexis #0911-102