Suntech Power Holdings

O’Melveny represented Suntech Power Holdings in its insolvency proceedings in New York and the Cayman Islands. In December 2014, we won a complete victory in the first contested chapter 15 case in the Southern District of New York after a controversial Second Circuit decision substantially bolstered the requirements foreign companies had to meet to be eligible to file a chapter 15 bankruptcy petition, obtaining recognition and defeating a cross-motion to transfer venue of the case to the Northern District of California. The landmark decision has been described by legal commentators as providing a “roadmap” for foreign companies seeking to avail themselves of the US bankruptcy system and restores the U.S. courts to a central role in international restructurings.