A recent decision serves as a stark reminder that, if a foreign debtor seeks no more than an order granting recognition under Section 1517 and the automatic effects of recognition under Section 1520 of Chapter 15 with respect to U.S. assets, creditors may have to live with the processes and results of a foreign proceeding, no matter how contrary they may be to U.S. interests, law or public policy.
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Originally published in Pratt's Journal of Bankruptcy Law
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