New York court dismisses Chapter 15 application on COMI grounds
Foreign exchange trading companies Creative Finance and Cosmorex did not have their COMI in the BVI (Credit: iStock.com/VM-Studio)
A New York bankruptcy court has declined to recognise bankruptcy proceedings in the British Virgin Islands as foreign main proceedings under Chapter 15, finding that the BVI was not the debtor’s centre of main interest.
To read more
Subscribe to Global Restructuring Review
Subscribe to unlock unlimited access
Get news, unique commentary, expert analysis and essential resources from the Global Restructuring Review experts.
Subscribe now