Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

US court says NY law bonds count as property in Chapter 15 case

By Margarita Michaels

11 November 2015

US court says NY law bonds count as property in Chapter 15 case iStock

Widening the door for more non-US companies to seek recognition of cross-border bankruptcies in New York, a US bankruptcy court has found that New York choice of law and forum selection clauses in a Singaporean company’s indentures satisfied the Second Circuit’s much-criticised US property requirement for a Chapter 15 filing.