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Paul, Weiss Supports The American Bankruptcy Institute and INSOL International with Launch of New Chapter 15 Database
Practices
Under bankruptcy counsel Claudia Tobler's leadership, Paul, Weiss, Rifkind, Wharton & Garrison, LLP assisted the American Bankruptcy Institute and INSOL International with the launch of a new database focused on developments under chapter 15 of the Bankruptcy Code.
Chapter 15, enacted in 2005, enables a foreign representative of a foreign insolvency proceeding to seek the assistance of a United States bankruptcy court in a separate ancillary proceeding here, upon recognition of the foreign proceeding. Chapter 15 empowers a bankruptcy court to grant broad relief to a foreign representative to protect the assets of the debtor or the interests of its creditors in the United States.
The new database provides comprehensive information on chapter 15 proceedings and developments. It includes summaries of judicial opinions issued in chapter 15 cases since enactment of the chapter, organized by circuit and key issues. The database also features daily news headlines about the latest developments in chapter 15 cases, along with the full text of the statute and its legislative history.
A useful and original resource for the international restructuring community, the database can be reached by clicking here.