Mark D. Bloom


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…