Bankruptcy and Restructuring

Cross-Border Insolvencies

Since chapter 15 was added to the Bankruptcy Code in 2005 to address the recognition of foreign insolvency proceedings in the United States, Young Conaway has been involved in a number of such proceedings, representing companies, administrators, monitors, liquidators, and receivers in their capacity as court-appointed foreign representatives of insolvency proceedings in Canada, Mexico, England, Australia, Japan and the Cayman Islands.

In each instance, Young Conaway’s restructuring attorneys assisted with the requisite strategic planning related to seeking recognition and either obtained recognition of the foreign main proceeding or played an integral role with co-counsel in attaining that recognition, which requires in either case not only coordinating with the professionals handling the main proceeding, but also a strong grasp of the contours of the applicable insolvency law governing the main proceeding. This experience uniquely qualifies Young Conaway’s restructuring attorneys to provide effective representation to companies and foreign representatives that need to either analyze whether recognition is necessary or would be beneficial given the particular facts and circumstances a company faces or seek recognition of a foreign insolvency proceeding in the United States.