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Expert Analysis

No Bright-Line For Foreign Insolvency Law In Ch. 15

Law360, New York (December 12, 2013, 7:01 PM EST) -- In Jaffé v. Samsung Electronics Co. Ltd., et al.,[1] the Fourth Circuit confirmed the absence of a bright-line rule governing whether foreign insolvency law will apply in cases under Chapter 15 of the Bankruptcy Code.[2] Rather, the Fourth Circuit joined the Fifth Circuit[3] in concluding that Bankruptcy Code § 1522(a) requires balancing the interests of a foreign debtor and its creditors when considering whether to apply a foreign law....

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