Nava Hazan of Squire Sanders writes that the recent 'Morning Mist Holdings' decision resolved a split of authority and correctly ruled that center of main interests must be determined at the time of a Chapter 15 petition. This decision is very favorable for foreign liquidators, who will again be able to seek assistance from bankruptcy courts in the United States, which is one of the main goals of Chapter 15 of the Bankruptcy Code.
How Foreign Liquidators Can Gain Access to U.S. Courts
New York Law Journal
September 23, 2013