In re Octaviar: Minimal US Property Satisfies Chapter 15 Foreign Debtor Eligibility Requirements Imposed by Second Circuit | Practical Law
The US Bankruptcy Court for the Southern District of New York, in In re Octaviar Administration Pty Ltd., granted recognition of a foreign insolvency proceeding under Chapter 15 of the Bankruptcy Code, finding that claims and causes of action against US entities and an undrawn retainer with US counsel constituted "property in the United States" for purposes of satisfying section 109(a)'s debtor eligibility requirements.