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Judgment proof: the English Supreme Court pushes back on U.S. Bankruptcy Court jurisdiction
- Reed Smith LLP
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- United Kingdom, USA
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- October 24 2012
In a case with truly global implications, the Supreme Court of England and Wales held earlier today that judgments of U.S. Bankruptcy Courts against foreign defendants who had not submitted to the Bankruptcy Court’s jurisdiction were not enforceable in England and Wales in the case of Rubin v. Eurofinance SA
MF Global U.S. and UK
- Reed Smith LLP
- -
- United Kingdom, USA
- -
- December 19 2011
On October 31, 2011 (the “Petition Date”), MF Global, which up to that point had been one of the world’s largest brokerdealer firms, was plunged into insolvency on both sides of the pond
Third Circuit considering if the ‘police power’ exception to the automatic stay extends to the UK Pensions Regulator
- Reed Smith LLP
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- United Kingdom, USA
- -
- December 19 2011
One exception to the otherwise far-reaching scope of the automatic stay is the “police power” exception, which permits a governmental unit to commence or continue an action or proceeding that is in furtherance of its police and regulatory powers (section 362(b)(4) of the Bankruptcy Code
MF Global enters insolvency proceedings on both sides of the pond
- Reed Smith LLP
- -
- United Kingdom, USA
- -
- November 1 2011
MF Global, one of the world's leading brokerdealer firms entered into insolvency proceedings in both the US and the UK on 31 October 2011
Section 2(a)(iii) of the ISDA Master Agreement, similar clauses and insolvency
- Reed Smith LLP
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- United Kingdom, USA
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- November 11 2010
There have been so many articles written and opinions expressed on the spate of cases on the effect of how netting provisions in over-the-counter ("OTC") derivative contracts work when a counterparty becomes in default, that you would be forgiven for being confused about the current position
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