PSZJ Achieves Precedent-Setting Chapter 15 Victory on Behalf of Advantage Tankers

The PSZJ team of Mike Warner, Jordan Kroop, and Steve Golden won an extraordinary victory in the Southern District of Texas Bankruptcy Court for firm client, Advantage Tankers, by defeating an attempt by a long-time litigant to employ the services of a Malta-based liquidator to use a chapter 15 proceeding for continued litigation against Advantage. The PSZJ team forced an evidentiary hearing and lengthy oral argument, which persuaded the court that chapter 15 recognition of the Malta proceeding was unwarranted. Defeating recognition of a foreign proceeding is a relatively rare accomplishment and, in this case, produced a lengthy, well-reasoned (attached) Bankruptcy Court opinion, which should prove to have significant precedential value in future chapter 15 cases.

To view the order denying the chapter 15 petition, click below.