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Checkmate: Third Circuit holds automatic stay bars participation in U.K. pension proceedings

  • Bracewell & Giuliani LLP
  • -
  • Canada, United Kingdom, USA
  • -
  • January 19 2012

A recent decision by the Third Circuit in the Nortel Group bankruptcy reinforces the worldwide reach of the automatic stay and the narrow scope of the police power exception under section 362(b)(4) of the Bankruptcy Code