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Chapter 15 incorporates the Model Law on Cross Border Insolvency drafted by the United Nations Commission on International Trade Law.The law provides solutions to problems which arise in connection with cross-border bankruptcy, allowing US courts to issue subpoenas, orders to turn over assets, stays on pending actions, and orders of other types as circumstances dictate.
Molycorp filed for bankruptcy protection in late June 2015, after changing competitive circumstances, declining prices on output and a 2014 restructuring. At the same time it announced an agreement "with major creditors to restructure its $1.70 billion debt load". [14]
www.asiaalumgroup.com. Asia Aluminum is the largest aluminum extrusion group in Asia, with an annual designed capacity of 350,000 metric tons. It employed, directly and indirectly, in excess of 10,000 people, predominantly in the Asia Aluminum Industrial City which housed its primary manufacturing facilities, located in the Zhaoqing region of ...
The United States Court of International Trade ( case citations: Ct. Int'l Trade) is a U.S. federal court that adjudicates civil actions arising out of U.S. customs and international trade laws. [ 1] Seated in New York City, it exercises broad jurisdiction over most trade-related matters, and is permitted to hear and decide cases anywhere in ...
The union has listed its assets and liabilities in the range of $1 million to $10 million, according to the Sept. 30 filing made in a San Francisco court. "While we have attempted numerous times ...
Cross-border insolvency (sometimes called international insolvency) regulates the treatment of financially distressed debtors where such debtors have assets or creditors in more than one country. [1] Typically, cross-border insolvency is more concerned with the insolvency of companies that operate in more than one country rather than bankruptcy ...
The territorial principle is the most important and widely used. It is the idea that a state may claim jurisdiction over persons and events inside its own territory. So, foreign nationals committing crimes in the U.S. are subject to U.S. courts and U.S. laws. The nationality principle holds that the government of a citizen can obtain ...
The bankruptcy case was filed as prepackaged restructuring in the United States District Court for the Southern District of Texas and includes the parent company, McDermott International, Inc. and 247 affiliated companies. The primary case is identified as case number 20-30336. [17] In June 2020, McDermott was released from Chapter 11 ...