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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
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  • Vol 21 (2024)
  • Vol 22 (2025)
  •         Issue 1
  •         Issue 2

Vol 22 (2025) - Issue 1

Article preview

In Rare Use of 'Public Policy' Exception, Recognition of Ex Parte Order is Denied in Nexgenesis Chapter 15 Case

Maja Zerjal Fink, Partner, Clifford Chance, New York, USA

Synopsis
In Nexgenesis, the United States Bankruptcy Court for the Southern District of Florida ('Court') denied a motion for order recognising a preliminary asset freeze entered by a Brazilian court. In an opinion also based on the rarely-invoked public policy exception, the Court found that comity could not be granted to an ex parte pre-judgment order freezing the assets of US persons where there was no support for the underlying claims or requisite minimum contacts establishing personal jurisdiction of the foreign court over such US persons – and in any event, such relief would be manifestly
contrary to US public policy.

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International Corporate Rescue

"International Corporate Rescue is the ultimate legal and commercial guide through the maze of complex cross border insolvency and restructuring issues."

William Q Derrough, Managing Director and Co-head of Recapitalization & Restructuring Group, Moelis & Company, New York

 

 

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