United States Third Circuit

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In Re: RCS Capital Development, LLC, 12-2808

An order of recognition of an Australian insolvency proceeding under Chapter 15 of the Bankruptcy Code, and an order staying actions against the debtor and its property in the United States are affirmed, where: 1) the Australian insolvency proceeding should be recognized as a foreign main proceeding under Chapter 15 of the Bankruptcy Code; and 2) the debtor's fully-encumbered property in the United States is "property of the debtor," and thus is subject to the automatic stay under 11 U.S.C. section 1520.

Appellate Information

  • Decided 08/27/2013
  • Published 08/27/2013

Judges

  • SCIRICA

Court

  • United States Third Circuit

Counsel

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