International Insolvency

This panel will explore the breadth and limitations of U.S. Bankruptcy Code and U.S. bankruptcy court reach in the international community. There will be no discussion of chapter 15; rather, the panel will cover such issues as whether it is possible for a debtor to create jurisdiction in the U.S., and if so, whether it can and should maintain that jurisdiction. The panel will use recent cases in the maritime industry, such as Excel Maritime, General Maritime and TMT Procurement, as well as in the hospitality industry, such as Baha Mar and Scrub Island, to explore the reach of U.S. jurisdiction and the practical limitations imposed on a debtor and a court when a subset of the creditors do not care, and have little reason to be concerned about, what the Bankruptcy Code or a U.S. bankruptcy court order says. The panel will also consider the practical limitations imposed by cross-border issues in cases where there is undeniably U.S. jurisdiction, including what “critical foreign vendor” relief might be available even in U.S. courts that reject the critical-vendor doctrine, whether it is possible for a chapter 7 trustee to realize value from offshore assets, and whether the automatic stay, avoidance powers and free-and-clear orders have any practical impact in the international arena.

This panel will present a review of the current state of the law as to when a foreign entity can file a main proceeding vs. an ancillary proceeding in bankruptcy court, what interest is sufficient for a main or ancillary proceeding, cross-border insolvency protocols, challenges faced by foreign representatives (Octaviar, Rede Energia; Baha Mar, Fairfield), COMI (OAS S.A., Suntech), conflicts of law in fraudulent transfer litigation, recognition of foreign judgments in U.S. proceedings, and dealing with foreign boards or administrators of parents or subsidiaries.

This panel will cover recent developments in business bankruptcy cases at the bankruptcy and appellate levels.

After the dismissal of the Delaware filing by Baha Mar, should we assume that other cases (whether chapter 11 or chapter 15) involving non-U.S. entities filed in the U.S. will receive the same fate? This will be one of the numerous cases that will be examined in this panel on cutting-edge chapter 15 and other cross-border cases.

People and Assets on the Move Overseas: What You Need to Know to Hold Everything Still and Seize the Assets

A discussion of current issues of interest to bankruptcy judges and insolvency professionals.

This panel will discuss the latest cross-border insolvency decisions from U.S. and Caribbean courts.

Discussion of issues suited for cross border mediation, different mediating styles and local practices, judges as mediators, ethics and conflicts of interest, the ABI Model local Rule and much more.

This panel will discuss the intersection of cross-border insolvency proceedings, such as foreign receivership and/or liquidation proceedings, and U.S. bankruptcy proceedings through a case study of such recent cases as the Scrub Island Resort, Spa & Marina in the British Virgin Islands and the Baha Mar Casino & Hotel in the Bahamas. The panel will explore the issues that arise when these proceedings meet, the enforceability of orders emanating from each, the role that fiduciaries have therein, and the practical and legal differences, as well as advantages and disadvantages, between them.

Collateral Protection and Competing Priorities: Secured Credit in the International Arena