In re Suntech Power Holdings Co: SDNY Bankruptcy Court Liberally Interprets Chapter 15 Eligibility, Venue and COMI Determinations | Practical Law
In In re Suntech Power Holdings Co., Ltd., the US Bankruptcy Court for the Southern District of New York held that a foreign debtor may avail itself of the US Chapter 15 bankruptcy process by opening a bank account in the US for the specific purpose of establishing US jurisdiction and that its center of main interests (COMI) was the Cayman Islands, despite not having conducted any business in that country before filing its winding-up proceedings there.