Bloomberg Law spoke with associate David Shim following the US Supreme Court’s June ruling in Harrington v. Purdue Pharma LP, which prohibits companies from using Chapter 11 bankruptcy to forcefully strip creditors of legal claims against company insiders. The article notes that the decision has raised concerns about the impact of the ruling on cross-border insolvency cases, particularly those involving foreign companies.
In referring to a pending Chapter 15 case for Yuzhou Group Holdings Company, David says, “It is a pretty important case for those who are tracking this type of discussion.” He further notes, “It really depends on how broadly the court views the public policy exceptions in Chapter 15.”
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