§ 1515

Vitro v. ACP Master LTD. (In re Vitro)

Plaintiff debtor in foreign insolvency proceedings brought an adversary proceeding against defendant holders of notes issued by the debtor seeking to prevent the noteholders from pursuing litigation against the debtor and its non-debtor subsidiaries which were guarantors of the notes. The debtor moved for a preliminary injunction.
Ruling: 
Actions against debtor in foreign main proceeding enjoined due to probability of successful reorganization.
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Consumer case opionion summary, case decided on June 24,2011, LexisNexis #0711-138

In re Japan Airlines Corp.

Pending was the Verified Petition for Recognition and Chapter 15 relief seeking (a) recognition of the Foreign Representative as the "foreign representative" as defined in 11 U.S.C.S. § 101(24) of debtors, and (b) recognition of debtors' reorganization proceedings under Japanese law currently pending before the Tokyo District Court, Civil Department No. 8 (the Japan Proceeding) as a foreign main proceeding pursuant to 11 U.S.C.S. §§ 1515, 1517.
Ruling: 
Debtor airline's Japan reorganization recognized as foreign main proceeding.
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Commercial case opionion summary, case decided on February 17,2010, LexisNexis #0610-063

In re Oversight & Control Commn of Avanzit S.A.

After a foreign telecommunications company filed a suspension, or insolvency, proceeding in a foreign country, a foreign bank terminated its agreement to acquire contractual credits from the company and set off the amount it paid the company against amounts allegedly owed. An oversight commission in the foreign proceeding applied for recognition of the foreign proceeding, and the bank moved for summary judgment of dismissal.
Ruling: 
Foreign proceeding in which court continued to oversee plan after approval was "pending" and could be recognized as a foreign main proceeding.
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Commercial case opionion summary, case decided on April 18,2008, LexisNexis #0508-022

In re Oversight & Control Commn of Avanzit S.A.

After a foreign telecommunications company filed a suspension, or insolvency, proceeding in a foreign country, a foreign bank terminated its agreement to acquire contractual credits from the company and set off the amount it paid the company against amounts allegedly owed. An oversight commission in the foreign proceeding applied for recognition of the foreign proceeding, and the bank moved for summary judgment of dismissal.
Ruling: 
Application for recognition of foreing proceeding granted.
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Commercial case opionion summary, case decided on April 18,2008, LexisNexis #0508-092

In re Ernst & Young Inc.

A receiver filed a petition seeking recognition of an action that was filed against a Canadian corporation and a Colorado limited liability company (LLC) in the Court of Queen's Bench of Alberta, District of Calgary, Canada, pursuant to 11 U.S.C.S. §§ 1515 and 1517. The Securities Commissioner for the State of Colorado and parties who had sued the Canadian corporation and the Colorado LLC in federal district court opposed recognition.
Ruling: 
Canadian action against Canadian corporation and Colorado LLC recognized as foreign main proceeding.
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Commercial case opionion summary, case decided on February 08,2008, LexisNexis #0508-023

In re Loy

A foreign debtor was adjudged a bankrupt in a foreign insolvency proceeding, and the representative appointed in the foreign proceeding petitioned for recognition of the foreign proceeding under bankruptcy chapter 15. The representative also requested that the debtor be barred from challenging a lis pendens filed by the representative with regard to real property owned by the debtor in the United States.
Ruling: 
Petition for recognition of foreign main proceeding granted.
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Consumer case opionion summary, case decided on December 18,2007, LexisNexis #0208-060

In re Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd.

Petitioners, the joint provisional liquidators of debtor investment funds, moved, pursuant to 11 U.S.C. § 1515, for entry of orders recognizing the liquidation of the funds in foreign proceedings in the Grand Court of the Cayman Islands as foreign main proceedings pursuant to 11 U.S.C. § 1517 and granting relief pursuant to 11 U.S.C. §§ 1520 and 1521(a).
Ruling: 
Chapter 15 proceeding not necessary where foreign proceedings were not "foreign main proceedings" and center of main interests of debtor fund was the U.S.
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