Law: Chapter 15, US Bankruptcy Code

“What a long, strange trip it’s been”: Crédito Real strikes creditor deal

After sparring for months in a saga that has seen rival Chapter 11 and 15 proceedings filed in New York and Delaware, troubled Mexican shadow bank Crédito Real has reached a global restructuring agreement with an ad hoc group of unsecured creditors.

22 May 2023

Judge Drain returns to private practice with Skadden

Less than a year after stepping down from the bench in New York, former bankruptcy judge Robert Drain has joined Skadden Arps Slate Meagher & Flom as of counsel.

13 April 2023

11th Circuit hears Chapter 15 recognition dispute

Urging the Eleventh Circuit Court of Appeals to uphold the recognition of an Omani citizen’s English bankruptcy in the US, UNCITRAL Model Law draftsman Dan Glosband said the definition of “debtor” under section 109(a) of the US Bankruptcy Code does not apply to Chapter 15.

10 March 2023

Estonian trustee secures Ch15 recognition to investigate alleged fraud

The Estonian trustee of an allegedly fraudulent crowdfunding platform has secured recognition of his appointment in Miami to help him track down assets and funds he believes are held in the US.

20 February 2023

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