Canadian Telemarketer Seeks Ch. 15 Protection In Del.

Law360, Wilmington (April 12, 2013, 7:51 PM EDT) -- U.S. units of Canadian telemarketer iMarketing Solutions Group Inc. entered Chapter 15 in Delaware bankruptcy court Friday and sought immediate recognition of the insolvency proceedings commenced by its parent in a Toronto court earlier in the day.

Counsel for Xentel Inc. and seven other IMSG subsidiaries appeared in Wilmington hours after the Chapter 15 filing and asked the Delaware court to officially recognize the foreign proceedings as the company was “gravely concerned” that U.S. creditors hearing of the Canadian case would otherwise seek to terminate contracts...
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