Sign up to 9fin’s webinar — Restructure abroad, enforce at home — The rise of Chapter 15

9fin Team12 Nov 2026 | Global | 2 minute read

Chapter 15 of the US Bankruptcy Code is starting to look less like a traditional cross-border comity tool and more like an enforcement step. A growing number of companies, including Fossil and New Fortress Energy, are using foreign processes as the forum for a substantive restructuring, sometimes achieving results not possible through Chapter 11, and then heading back to the US bankruptcy court to make the outcome effective under US law.

But recognition is not merely a rubber stamp. In his recent opinion in New Fortress Energy, Judge Glenn set out in detail the circumstances in which he would refuse recognition in future, putting engineered COMI and jurisdiction arbitrage firmly under the spotlight. For companies, lenders and sponsors, the question is where legitimate forum choice ends and forum shopping begins.

In our latest webinar, 9fin lawyers Laurie Tomassian and Luke Viner are joined by three leading cross-border practitioners from the UK and US to unpack what is driving the trend and some of the key considerations for any parties to these transactions.

Sign up via the form below.

What will be covered:

Key principles to consider in Chapter 15 and local restructuring proceedings
COMI tourism and striking the right balance
Why the UK is an attractive option for US companies
The impact of Judge Glenn's New Fortress Energy opinion and what it means for future recognition applications
What the latest cases mean for companies, lenders and sponsors weighing their options
The path ahead and predictions for how this trend may evolve

Kate Stephenson, Partner, Kirkland & Ellis
Kyle Satterfield, Partner, Paul, Weiss
Jason Zakia, Partner, White & Case
Laurie Tomassian, Senior covenant lawyer, 9fin
Luke Viner, Senior legal consultant, 9fin

Date: Thursday 12 November
Time: 3pm GMT | 10am ET

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