Southern District of New York

September 6– Christopher Kiplok, counsel to the trustee in the liquidations of Lehman Brothers and MF Global, writes about the principal lesson of the largest and eighth-largest bankruptcies in history in this CNBC commentary: Lehman and MF Global taught the need to prepare for the next financial collapse.

In a recent decision, the United States Bankruptcy Court for the Southern District of New York found that a relatively small retainer placed in the trust account of the foreign liquidators’ U.S. counsel constituted “property” sufficient to satisfy the requirements of section 109(a) of the Bankruptcy Code in a chapter 15 proceeding.[1] The decision

On December 21, the Bankruptcy Court for the Southern District of New York recognized and agreed to enforce the unopposed foreign restructuring plan of oil exploration company C.G.G. S.A. (“C.G.G.,” or the “Company”) under Chapter 15 of the Bankruptcy Code.  C.G.G.’s restructuring marks one of the few times a U.S. bankruptcy