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§ 1520(a)

In re Nortel Networks UK Ltd

Sep
15
2015
Ruling
Automatic stay barred domestic debtors from impleading foreign debtors in proceeding concerning prepetition debt.
Issue(s)
Should debtors be granted leave to file a third-party complaint against the EMEA chapter 15 debtors?

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Commercial opinion summary, case decided on September 15, 2015 , LexisNexis #1015-029
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Krys v. Farnum Place LLC (In re Fairfield Sentry Ltd.)

Sep
26
2014
Ruling
Sale of Securities Investor Protection Act claim of debtor, a British Virgin Islands investment fund that invested with Madoff, was subject to § 363 review.
Issue(s)
Did the bankruptcy court err in declining to conduct, in a Chapter 15 ancillary bankruptcy proceeding, a § 363 review of a sale of the claims of debtor, a British Virgin Islands investment fund, in the liquidation of Bernard L. Madoff Investment Securities LLC under the Securities Investor Protection Act?

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on September 26, 2014 , LexisNexis #1014-100
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In re ABC Learning Ctrs. Ltd.

Aug
27
2013
Ruling
Foreign main proceeding properly recognized even though Australian debtor's property was fully leveraged.
Issue(s)
Was foreign main proceeding properly recognized where debtor's property was fully leveraged pursuant to receivership for secured creditors?

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on August 27, 2013 , LexisNexis #0913-105
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In re Fairfield Sentry Ltd.

Jan
10
2013
Ruling
Foreign representative's motion to avoid sale of debtor's SIPA claim denied where foreign court had held sale valid.
Procedural posture

A foreign representative filed an application seeking an order under 11 U.S.C.S. §§ 105(A), 363, 1507(A), 1520(A)(2), and 1521(A) which invalidated a trade confirmation he entered on behalf of three investment funds ("debtors") to sell a claim the debtors filed in an action under the Securities Investor Protection Act ("SIPA"). An LLC that bought the claims opposed the application.

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Commercial opinion summary, case decided on January 10, 2013 , LexisNexis #0213-032
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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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Commercial opinion summary, case decided on August 23, 2010 , LexisNexis #0910-062
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