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Expert Analysis

2nd Circ. Fails To See The Comity In Chapter 15

Law360, New York (October 17, 2014, 12:27 PM EDT) -- On Sept. 26, 2014, the U.S. Court of Appeals for the Second Circuit, in Krys v. Farnum Place LLC (In re Fairfield Sentry Ltd.), No. 13-3000, (2d Cir. Sept. 26, 2014), vacated orders of the District Court for the Southern District of New York and the U.S. Bankruptcy Court for the Southern District of New York, which had both denied to conduct, in the context of a Chapter 15 ancillary bankruptcy proceeding, a Section 363 review of a sale of a claim by the liquidator of Fairfield Sentry Ltd....

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