RCT Obtains Chapter 15 Recognition for ICP Funds

Judge Robert E. Gerber of the Bankruptcy Court for the S.D.N.Y. granted foreign main recognition to the Joint Official Liquidators of two ICP Strategic Credit Income Funds. The ICP Funds are Cayman Islands exempted limited liability entities that invested in the RMBS market. In addition to recognition, the Court granted several forms of additional relief to assist the Liquidators in commencing potential actions in the U.S.

Prior results do not guarantee a similar outcome.