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: New York Supreme Court Criminal Term LibraryNew York District Court Refuses to Recognize Hedge Funds' Winding Up Proceedings in Cayman Islands
By David Badertscher, PLL
Source: Lexology, June 20, 2008.
New York district court refuses to recognize hedge funds? winding up proceedings in the Cayman Islands
Paul Weiss Rifkind Wharton & Garrison LLP
"In a recent decision, Judge Sweet of the United States District Court for the Southern District of New York affirmed a bankruptcy court decision and refused to recognize under chapter 15 of the Bankruptcy Code either as 'foreign main proceedings' or as 'foreign nonmain proceedings' the well-publicized liquidations brought in the Grand Court of the Cayman Islands by two Bear Stearns hedge funds (the 'Funds')."
Full post as published by New York Supreme Court Criminal Term Library on June 20, 2008 (boomark / email).
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