In Re SPhinX, Ltd.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that location of most assets in U.S. supported U.S. COMI finding, since debtors’ liquidators would need U.S. courts’ assistance to realize on those assets
• holding that section 1522 provides that the Court may grant or modify interim relief under section 1519 only if the interests of all parties are “sufficiently protected”
• noting that “recognition itself is subject to review and modification under Bankruptcy Code section 1517(d).”
• stating that the statutory presumption of section 1516(c) may be of less weight in the event of a serious dispute
• noting that Chapter 15 maintains, and in some respects enhances, the “maximum flexibility” of bankruptcy courts in handling ancillary cases in light of principles of international comity and respect for the laws and judgments of other nations
• noting that courts should not apply the factors listed above “mechanically” but instead should interpret them “in light of chapter 15’s emphasis on protecting the reasonable interests of parties in interest pursuant to fair procedures and the maximization of the debtor’s value”

Source: CourtListener parenthetical corpus (CC0).