In brief This alert considers recent developments in the US Chapter 15 aspect of cross-border insolvencies that may lead to less “COMI-shifting” — a debtor establishing its COMI (center of main interest) in a new jurisdiction where it decides to file its insolvency proceeding. COMI-shifting can be expensive and time-consuming. Companies seeking recognition of foreign proceedings under Chapter 15 of the US Bankruptcy Code may find it easier to obtain broad relief, even if the…
This material was first published by Thomson Reuters, trading as Sweet & Maxwell, 5 Canada Square, Canary Wharf, London, E14 5AQ, in the Journal of International Banking Law & Regulation as ‘Legal Analyses: Ipso Facto Clauses and their Position in Financing Documents in Singapore’ JIBLR 2021, 36(11), 485-486 and is reproduced by agreement with the publishers. Abstract This legal analysis examines developing market practice in the Singapore legal market on the contractual treatment of the…