Bankruptcy — foreign property

Posted September 14, 2022 1:34 PM

Where creditors in foreign company acted to seize debtor’s property located entirely in foreign country, bankruptcy court correctly concluded that it lacked personal jurisdiction over foreign creditors.The 7th U.S. Circuit Court of Appeals affirmed a decision by Judge Andrea R. Wood, Northern District of Illinois.Joseph Sheehan is a retired surgeon who emigrated from Ireland several decades ago and currently lives in Winfield, Illinois. In 2006, Sheehan obtained loans from an Irish bank to buy interest in Blackrock …

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