27 October 2011

Low threshold for foreign debtors to use Chapter 11

On Friday 21 October 2011, the Bankruptcy Court in the Southern District of New York handed down an important decision, confirming that foreign (groups of) companies can use Chapter 11 without any significant threshold as to their nexus with the United States.

This may be good news for corporates that seek to use Chapter 11 for restructuring their business or capital structure.

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Please download the legal alert here in English.