Staffing Co.'s German Case Gets Nod By US Bankruptcy Court

Law360, New York (September 18, 2013, 2:51 PM EDT) -- Reutax AG’s insolvency action in Heidelberg, Germany, was recognized Tuesday by Delaware's bankruptcy court as the staffing and recruiting firm's foreign main proceeding, while Reutax's founder faces criminal charges for allegedly embezzling funds to purchase a Beverly Hills mansion and other luxuries.

U.S. Bankruptcy Judge Mary F. Walrath signed off on Reutax’s motion to award recognition to its already pending case under "Insolvenzordnung," the German insolvency code, following her grant of a temporary restraining order to block creditors from taking action against the company's U.S. assets...
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