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RCT ARGUES AGAINST THE ISSUANCE OF AN EXTRATERRITORIAL INJUNCTION IN OCEAN RIG’S CHAPTER 15 CASE

On November 16, 2017, RCT argued to the SDNY Bankruptcy Court that Ocean Rig’s attempt to use Section 1521 of the Bankruptcy Code to obtain an injunction preventing Highland Capital Management from pursuing $74 million in fraudulent transfer claims in the Republic of the Marshall Islands should fail. Ocean Rig’s motion implicates a novel application of Chapter 15 and RCT’s response challenges Ocean Rig’s indirect attack on RMI jurisdiction as an improper use of Chapter 15. The Court has not yet issued its ruling.
See briefing here

Prior results do not guarantee a similar outcome.