Issue link: https://mbozikis.ufcontent.com/i/1422521
224 IX. CROSS-BORDER CASES (CHAPTER 15) A. Purpose of Chapter 15 Chapter 15 of the Bankruptcy Code deals with cross-border bankruptcy matters. Chapter 15 tracks the Model Law on Cross- Border Insolvency promulgated by the United Nations Commission on International Trade Law, and is intended to encourage cooperation between the United States of America (the "U.S.") and other nations with respect to cross-border insolvency cases. 11 U.S.C. § 1501(a). Chapter 15 can apply in four different situations: where (i) a non-U.S. court or foreign representative seeks assistance in the U.S. in connection with a pending foreign insolvency proceeding, (ii) assistance is sought in another country in connection with a bankruptcy case pending in the U.S., (iii) the same debtor is subject to both a U.S. and a foreign proceeding, or (iv) non-U.S. creditors or other interested persons have an interest in commencing or participating in a U.S. bankruptcy case. 11 U.S.C. § 1501(b). To qualify for Chapter 15 relief, a debtor generally must meet Section 109's requirement that the debtor has a domicile, place of business or property in the U.S. See In re Barnet, 737 F.3d 238, 250 (2d Cir. 2013). Courts have been liberal, however, in determining what constitutes sufficient U.S. property to make a debtor eligible for Chapter 15. See Jones v. APR Energy Holdings Ltd. (In re Forge Grp. Power Pty. Ltd.), 2018 WL 827913 at *12- 13 (N.D. Cal. Feb. 12, 2018) (retainer held by debtor's counsel in U.S. was sufficient to satisfy requirements of Section 109); In re Berau Capital Resources PTE LTD, 540 B.R. 80 (Bankr. S.D.N.Y. 2015) (U.S. dollar denominated indenture that contained New York choice of law and forum selection clauses created an intangible U.S. property right sufficient to permit a Chapter 15 case). Certain entities are excluded from Chapter 15 relief, including (i) stockbrokers and commodity brokers subject to Chapter 7, (ii) entities subject to Securities Investor Protection Act