Berau Capital Resources Pte Ltd: A New Gateway to Chapter 15 for Foreign Companies?

Berau Capital Resources Pte Ltd, a special purpose vehicle incorporated to raise funds on behalf of an Indonesian mining and coal company, initiated proceedings in the High Court of the Republic of Singapore pursuant to section 210(10) of the Companies Act on July 4, 2015. On July 10, 2015, Berau filed a petition for recognition of the Singapore proceeding in the Bankruptcy Court for the Southern District of New York under Chapter 15 of the Bankruptcy Code.

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