Case Study: In Re Ashapura

Law360, New York (September 25, 2012, 1:10 PM EDT) -- On June 28, 2012, Judge Shira A. Scheindlin of the United States District Court for the Southern District of New York affirmed the order of the United States Bankruptcy Court for the Southern District of New York granting Ahapura Minechem Ltd.’s petition for recognition of its Indian insolvency proceeding as a foreign main proceeding under Chapter 15 of the Bankruptcy Code. Armada v. Shah (In re Ashapura Minechem Ltd.), (S.D.N.Y. June 28, 2012).

In so holding, the district court approved the recognition of a proceeding governed...
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