2nd Circ. Raises A Drawbridge To Ch. 15

Law360, New York (December 21, 2013, 1:05 PM ET) -- In an important case of first impression, Drawbridge Special Opportunities Fund LP v. Barnet (In re Barnet)[1], the United States Court of Appeals for the Second Circuit recently held that Section 109(a) of the Bankruptcy Code — which provides that only a person with a domicile, residence, place of business or property in the United States is eligible to be a debtor under the Code — applies in a Chapter 15 case.

Chapter 15 was enacted by Congress in 2005 to incorporate the UNCITRAL Model Law...
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