Bankruptcy & Restructuring News & Analysis

We have previously reported on an appeal pending before the United States Court of Appeals for the Second Circuit arising out of the Chapter 15 case of Ocean Rig UDW Inc.  As we summarized at that time: The appeal relates to an April 2018 order of U.S. District Court Judge John Koeltl holding, among other things, that a purported shareholder lacked standing to challenge a. U.S. Bankruptcy Court's recognition of Cayman Islands Provisional Liquidation Proceedings as a foreign main proceeding under Chapter 15 of the Bankruptcy Code because the company was insolvent at the time. This insolvency caused the shareholder...