Global Turnaround: Are US Assets Require for Foreign Recognition Under Chapter 15

Partners Jennifer L. Rodburg and Ashley Katz published an article in the May 2024 issue of Global Turnaround magazine, the leading publication for international restructuring and insolvency professionals. The article discusses a recent Eleventh Circuit ruling which affirmed the decision of the District Court for the Middle District of Florida in Al Zawawi v. Diss, that US Assets are not required for Chapter 15 eligibility, but conflicts with the Second Circuit precedent of In re Barnet, potentially setting the stage for a US Supreme Court challenge.

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