The U.S. Bankruptcy Court for the Southern District of New York recently rejected arguments that a foreign debtor’s incorporation outside the United States and concurrent foreign restructuring proceedings should compel dismissal of an involuntary Chapter 11 petition. In re Xinyuan Real Estate Co., Ltd. (S.D.N.Y., March 3, 2026) clarifies that U.S. courts retain meaningful jurisdiction
SDNY Bankruptcy
SDNY Rejects Opt-Out Releases in Chapter 11 Plan, Deepening Post-Purdue Uncertainty
By Carl D. Neff on
On December 1, 2025, the U.S. District Court for the Southern District of New York issued a decision in In re GOL Linhas Aéreas Inteligentes S.A., 675 B.R. 125 (S.D.N.Y. 2025), reversing a bankruptcy court’s confirmation of third-party releases that relied on an opt-out mechanism. Judge Denise Cote held that a creditor’s silence—a failure…