Australian Co. Seeks Ch. 15 In Wake Of Tax Avoidance Case

Law360, New York (May 10, 2017, 9:14 PM EDT) -- An Australian borrowing and lending entity that operated within a complex group of companies targeted by Australian authorities for 25 years of tax avoidance asked a New York bankruptcy court on Tuesday for Chapter 15 protection, hoping to avoid obstructions in the process of winding down.

The liquidators for BCI Finances PTY Ltd. and three other related companies are asking the bankruptcy court to recognize the companies’ wind-down proceedings taking place in Australia, where the liquidators are seeking more than $120 million in relation to long-running...
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