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§ 1521(a)(5)

Fairfield Sentry Ltd. V. Theodore GGC Amsterdam (In re Fairfield Sentry Ltd.)

Ruling
Claims by foreign representatives of debtors in foreign insolvency proceedings were properly removed to bankruptcy court.
Procedural posture

Plaintiffs, foreign representatives of debtors in foreign insolvency proceedings, brought a multitude of actions in state court against defendant financial entities seeking to recover amounts paid to the entities based on the debtors' participation in a fraudulent investment scheme. The actions were removed to the bankruptcy court, and certain entities moved for remand or abstention with regard to certain of the actions.

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Commercial opinion summary, case decided on May 23, 2011 , LexisNexis #0611-136