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Inaugural Survey of Chapter 15 of the Bankruptcy Code (The Business Lawyer)

The Firm's Dan Moss, Corinne Ball, Benjamin Rosenblum, Jasper Berkenbosch, Erik Schuurs, Sushma Jobanputra, Vinay Kurian, and Zachary Sharpe have created the first-ever survey of key cases under chapter 15 of the Bankruptcy Code, which is the section of the Bankruptcy Code that governs whether a U.S. bankruptcy court will extend comity and recognition to restructuring proceedings occurring outside the United States. The survey also summarizes key cross-border restructuring cases decided under Singapore's restructuring regime. The survey was developed exclusively for the ABA Business Law Section and includes introductory commentary regarding preserving and promoting the rule of law in cross-border restructuring and insolvency cases from Chief Judge Martin Glenn (S.D.N.Y. Bankr.), Chief Judge David Jones (S.D. Tex. Bankr.), Justice Anna Elizabeth de Vos (District Court of Amsterdam), Justice Kannan Ramesh (Supreme Court of Singapore), and Justice Christopher Sontichi (Singapore International Commercial Court). The survey provides a general overview of chapter 15 and thorough case summaries regarding, among other topics, requirements to achieve recognition in the United States, litigation considerations in chapter 15 (e.g., discovery, releases), and operational restructuring opportunities (e.g., asset sales).

Insights by Jones Day should not be construed as legal advice on any specific facts or circumstances. The contents are intended for general information purposes only and may not be quoted or referred to in any other publication or proceeding without the prior written consent of the Firm, to be given or withheld at our discretion. To request permission to reprint or reuse any of our Insights, please use our “Contact Us” form, which can be found on our website at This Insight is not intended to create, and neither publication nor receipt of it constitutes, an attorney-client relationship. The views set forth herein are the personal views of the authors and do not necessarily reflect those of the Firm.