In re JSC BTA Bank

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.
Issue: 
ABI Membership is required to access the full summary of In re JSC BTA Bank. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on August 23,2010, LexisNexis #0910-062