3rd Circ. Backs Ch. 15 Protections For Bankrupt Aussie Co.
In a 28-page opinion, the three-judge panel ruled the insolvent Australian child care provider was entitled to Chapter 15 recognition and a stay protecting its U.S. assets from creditor actions, regardless of the fact that that those assets are fully encumbered.
Austrailia's Corporations Act utilizes receivers...
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