As cross-border restructurings grow, especially in the wake of the global COVID-19 pandemic, global companies filing for insolvency relief in foreign countries may utilize chapter 15 of the Bankruptcy Code to facilitate the protection of assets located in the U.S. In Chapter 15 proceeding, assistance is available upon recognition of the foreign proceeding under Section 1521 (a) (4) of the…
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International Insolvency
Better Strategies Occur with knowledge and experienceToday’s increasingly global economy is spurring companies to start or acquire new ventures beyond their borders. Unfortunately, not all operations succeed.
Those cross-border failures have become increasingly complex in recent years as debtors find themselves with significant assets in multiple jurisdictions and facing the prospects of competing proceedings.
HMB’s team has spearheaded internationally significant restructurings of public and private companies, garnering acclaim in our role as turnaround strategists. Our attorneys have been at the forefront of understanding the implications of foreign insolvency laws, which means we can develop strategies tailored to you and your international restructuring needs. This includes different market conventions, intercreditor concerns and issues relating to obtaining credit and collateral support.
We understand all aspects of using ancillary proceedings brought in the U.S. on behalf of foreign representatives under chapter 15 of the US Bankruptcy Code. Additionally, our attorneys have represented foreign entities and financial institutions in out-of-court workouts, negotiating and implementing international cross-border protocol and representing foreign creditors in all aspects of U.S. bankruptcy proceedings.