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International Corporate Rescue

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  • Vol 22 (2025)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5

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 a brilliant resource. The articles are always informative and interesting. It helps to keep me up to date with developments in insolvency and restructuring, both in England and many other jurisdictions."

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