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In March 2021, Dentons published, “
Fairfield Sentry:
A look into the application of the US safe harbor provisions and the Hague Convention to foreign claims,” (available here) which examined the December 14, 2020 memorandum decision issued by now-retired Judge Stuart Bernstein of the US Bankruptcy Court for the Southern District of New York (the “Court”) in
In re Fairfield Sentry Ltd. (the “
Fairfield Sentry Decision”).
1 Specifically, the Court (as such, the “
Fairfield Sentry Court”) held that the safe harbor provisions of the US Bankruptcy Code apply in chapter 15 cases to bar foreign law avoidance claims arising under BVI law to the extent they are analogous to the categories of US avoidance claims which are exempted as safe-harbored.
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