Media Releases

Judges of the Worldwide Judicial Insolvency Network to Meet in New York City this September

MEDIA RELEASE

 

 

JUDGES OF THE WORLDWIDE JUDICIAL INSOLVENCY NETWORK TO MEET IN NEW YORK CITY THIS SEPTEMBER

 

  

15 August 2018 – Insolvency Judges from the Judicial Insolvency Network (“JIN”) will be meeting in New York City on September 22nd and 23rd 2018. The JIN is a network of insolvency judges from across the world with the aim of providing judicial thought leadership, developing best practices and facilitating communication and cooperation amongst national courts in cross-border insolvency and restructuring matters.  

 

 

2          The meeting in New York City is the 2nd Conference of the JIN and will be jointly hosted by the United States (“the US”) Bankruptcy Court for the Southern District of New York and the US Bankruptcy Court for the District of Delaware.

 

 

3          The inaugural JIN conference, which was hosted by the Supreme Court of Singapore in 2016, saw the participation of judges from Australia (Federal Court and New South Wales), Bermuda, the British Virgin Islands, Canada (Ontario), the Cayman Islands, England & Wales, Hong Kong SAR (as an observer), Singapore and the United States of America (Delaware and Southern District of New York).

 

 

4          That meeting concluded with the issuance of a set of guidelines for communication and cooperation among courts for cross-border insolvency matters (“the JIN Guidelines”), which received the “Most Important Overall Development” Award at the 2017 Global Restructuring Review Award ceremony in June 2017.  The JIN Guidelines address key aspects of, and the modalities for, communication and cooperation amongst courts, insolvency representatives and other parties involved in cross-border insolvency proceedings, including the conduct of joint hearings. The overarching aim of the JIN Guidelines is the preservation of enterprise value and the reduction of legal costs.  To date, ten jurisdictions have adopted the JIN Guidelines (with modifications), with the latest being the Seoul Bankruptcy Court on July 1st 2018 and the Grand Court of the Cayman Islands on August 7th 2018.

 

5         Since the Singapore conference, the network has expanded and now includes the US Bankruptcy Court for the Southern District of Florida and judges from Latin America and North Asia:
 

  1. the National Commercial Court of Argentina;

  2. the Sao Paolo State Court of Justice, First Bankruptcy Court of Sao Paolo, Brazil;

  3. the Seoul Bankruptcy Court (as an observer); and

  4. the Tokyo District Court (as an observer).

 

6          More information about the conference will be released in due course.   

 

 

SUPREME COURT

15 August 2018

 

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