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Coming to America: Corporate Bankruptcy Tourism

United States Bankruptcy Courts, particularly in New York and Delaware, are already a destination for multinational corporate bankruptcy filings, but a recent study co-authored by Stephen J. Lubben, a Seton Hall Law School professor and frequent contributor to The New York Times’ DealBook blog, suggests that the current volume of foreign debtors filing in the U.S. may just be the tip of the iceberg.  Lubben suggests that the dramatic increase in bond debt issued by foreign corporations, particularly in Europe, will lead to a commensurate surge in U.S. bankruptcy filings by foreign issuers looking to restructure debt held by investors around the world.  Continue reading

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