International Insolvency

Nortel (two courts simultaneously trying allocation issues); Suntech, Barnet and subsequent bankruptcy court decisions on remand (recognition and § 109(a)); Fairfield Sentry Limited (sale of SIPA claims); enforcement of judgments (Argentina litigation, Madoff); filing of chapter 11 cases by foreign debtors (Alsacia); extraterritoriality issues regarding avoidance actions (Madoff decisions). Do Fairfield, Quimonda, and Madoff represent a retreat from the principle of comity set forth in chapter 15?

Find out not only what the hot new issues are in chapter 15 proceedings, but also the answers to issues that no one talks about. For example, can chapter 15 be used to bring a cause of action? Can a foreign debtor recognized under chapter 15 use § 108 to extend limitations, and can such a debtor seek turnover pursuant to § 542(e)? Come hear our panel discuss these and other important chapter 15 questions.

Structuring Cross-Border Deals to Protect Creditor Interests

In 2009, Fairfield Sentry Ltd.’s liquidators commenced litigation in the BVI and the U.S. to recover more than $6 billion from redeeming investors. This panel discussion will discuss the basis for clawback claims generally, the recent decision by the Privy Council, and the impact of the decision for trustees, liquidators and redeeming investors going forward.

Debt recovery in the Caribbean can sometimes require more from creditors than simply having a well-drafted set of documents containing prescribed remedies. The astute creditor should take into consideration several factors when seeking to resolve and satisfy its outstanding claims against an insolvent business entity, including the impact on the debtor’s business, an awareness of local issues, and an appreciation for the importance of relationships in preserving and fostering long-term business relationships.