Icelandic Bank's Ch. 15 Protection Bid Approved
Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the Southern District of New York issued an order recognizing Glitnir's filing as a foreign main proceeding, according to attorney Gary S. Lee of Morrison & Foerster LLP.
The order protects the bank's U.S. assets from creditor action and makes them available for creditors internationally...
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