In re Tradex Swiss AG

Ruling: 
Interim trustee appointed to take possesion of involuntary foreign trading platform and bank accounts until ruling on possible conversion to chapter 15.
Procedural posture: 
Petitioning creditors filed an involuntary petition against the alleged debtor, a Swiss corporation. The alleged debtor was also the subject of a pending bankruptcy proceeding in Switzerland. Certain foreign liquidators filed a petition for recognition of the Swiss bankruptcy as a "foreign main proceeding" within the meaning of 11 U.S.C. §§ 1502(4) and 1517. They also moved to consolidate the case and convert it to one under chapter 15.
Issue: 
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Commercial case opionion summary, case decided on December 12,2007, LexisNexis #0108-110