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

Client retainer not sufficient for Chapter 15 jurisdiction, says California court

By Tom Rhys Davies

20 March 2017

Client retainer not sufficient for Chapter 15 jurisdiction, says California court iStockphoto.com/EvgenyMiroschinenko

A California court has dismissed Australian coal miner Forge Group’s Chapter 15 case, ruling that a “dwindling” retainer held by its counsel was insufficient property in the US to justify a stay of proceedings.