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Welcome /  Blog /  2007-09-doc3 In re Bear Stearns (Bankr. S.D.N.Y Aug. 30, 2007)

2007-09-doc3 In re Bear Stearns (Bankr. S.D.N.Y Aug. 30, 2007)

With the fast growing number of cross-border insolvency cases and the adoption in many jurisdictions of international insolvency rules and provisions, the turnaround and insolvency profession faces new challenges. Recent examples include the judgment of 30 August 2007 of the US Bankruptcy Court (Southern District of New York) with regard to two Bear Sterns Hedge Funds, which were both entities registered in the Cayman Islands. The insolvency law of this country presumes jurisdiction over any entity that is registered in the Cayman Islands.