The High Burden to Satisfy the “Manifestly Contrary to Public Policy” Standard of Chapter 15
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In a recently published article in GRR‘s The Restructuring Review of the Americas 2019, written by Ronit J. Berkovich and Olga F. Peshko, Weil describes the exceptionally high burden parties must overcome to prove that requested relief in a chapter 15 case is manifestly contrary to public policy.
In analyzing the public policy exception of section 1506 of the Bankruptcy Code, the article focuses on examples of successful application of the public policy exception in the context of recognition of a proceeding under chapter 15 of the Bankruptcy Code and in the context of requests for specific chapter 15 relief subsequent to recognition. In addition, the public policy exception is examined through the case study of the recognition proceedings of In re Takata Corp.
If you would like to read our article or others published in the GRR’s The Restructuring Review of the Americas 2019 – please click here.
Ronit J. Berkovich and Olga F. Peshko, article authors.
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