In re Gerova Fin. Group
Oct
22
2012
Ruling
Recognition of foreign main proceeding granted and could not be conditioned on cost-benefit analysis, approval of creditors or examination of need for proceedings.
Procedural posture
Liquidators of debtors in foreign insolvency proceedings petitioned a bankruptcy court for recognition of the foreign proceedings as foreign main proceedings. Creditors of the debtors objected to recognition on the grounds that recognition was unnecessary and against U.S. public policy.
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Court
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