Floundering Industries Fuel Global Interest In Ch. 11
By Maria Chutchian
Law360, New York (September 6, 2013, 6:39 PM EDT) -- As international industries from shipping to real estate fall deeper into debt, a growing number of multinational companies looking to reorganize are turning to the U.S., which offers indebted entities greater flexibility and a volume of case law they can’t find in their home countries, experts say.
Though they’re not based here, companies such as Excel Maritime Carriers Ltd., a Greek shipper that filed for Chapter 11 in New York this summer, are relying on U.S.-based property to gain access to Chapter 11, which provides an...