CBInsolvency LLC

Dan Glosband: Representative Matters

Dan Glosband

Dan Glosband has been involved in sophisticated international and cross-border insolvency matters and in the study, teaching and development of cross-border insolvency law since the early 1980’s. The following are among the more significant of those engagements.

International and Cross-Border Cases:

    • Representation of Clarkson Company Limited as Receiver appointed by a Canadian court in the case of Fishery Products, Limited in connection with proceedings in the United States Bankruptcy Court for the District of Massachusetts involving the Canadian debtor (1983);
    • Representation of the Joint Official Liquidators appointed in the Bahamas winding up proceeding of Thornhill Global Deposit Fund in obtaining repatriation of assets through a proceeding for ancillary relief under former section 304 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Massachusetts (1999);
    • Representation of the scheme administrators of Transcon Insurance Company in a proceeding under former section 304 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Massachusetts seeking to enforce injunctive orders issued by the courts of England and Bermuda prohibiting litigation in the United States against Transcon (2001);
    • Representation of General Cinema Corporation in Chapter 11 reorganization proceedings in the United States Bankruptcy Court for the District of Delaware, including resolution of the affairs of subsidiaries in Latin and South America (2001-2002);
    • Representation of Arthur D. Little, Inc. in its Chapter 11 reorganization proceedings in the United States Bankruptcy Court for the District of Massachusetts, including resolution of the affairs of divisions and subsidiaries in 23 countries, including administration proceedings of UK subsidiaries (2002-2003);
    • Counsel to the U.S. group of subsidiaries of Babcock Borsig AG and affiliates in insolvency proceedings in Germany and Austria (2002-2004);
    • Counsel to acquirer of Tiger Brands, a debtor in a Canadian Companies Creditors Arrangement Act proceeding (2004-2006);
    • Providing an expert opinion to the Supreme Court of Bermuda in the Matter of Electric Mutual Liability Insurance Company, Ltd. (In Liquidation) (2006);
    • Representation of the Joint Liquidators of Britannia Bulk, PLC in seeking and obtaining recognition of a foreign main proceeding under Chapter 15 in the United States Bankruptcy Court for the Southern District of New York (2008);
    • Providing an expert opinion for the Joint Liquidators of Stanford International Bank Ltd. (“SIB”) in the liquidation proceedings of SIB pursuant to the provisions of the International Business Corporations Act, Cap. 222, as amended, of the Laws of Antigua and Barbuda on whether the receivership ordered by the United States District Court for the Northern District of Texas in Securities and Exchange Commission v. Stanford International Bank, Ltd., et al., Case No. 09-0298 (the “US Receivership”), qualified as a “collective procedure” capable of recognition as a “foreign proceeding” under the UNCITRAL Model Law on Cross-Border Insolvency (the “UNCITRAL Model Law”) as adopted by the Cross-Border Insolvency Regulations 2006 (the “Cross-Border Regulations”). My opinion was submitted by affidavit to the High Court of Justice, Chancery Division, Companies Court in cases No. 13338 and 13959 of 2009, In the Matter of Stanford International Bank limited (In Liquidation) (2009);
    • Providing an expert opinion for the foreign representative and counsel to the hibu Inc. group of companies (the Yellow Pages) in the matters of hibu Finance (UK) Ltd.; hibu Connect, SAU; hibu (USA) LLC; hibu Holdings (USA) Inc.; hibu of Pennsylvania, Inc.; hibuTel, Inc.; and ZNODE, Inc. on whether their proposed Schemes of Arrangement would qualify for recognition as a foreign nonmain proceedings under chapter 15 of the U.S. Bankruptcy Code, and whether a U.S. Bankruptcy Court would grant additional relief giving effect to a series of releases required for implementation of the schemes. My opinion was submitted to the High Court of Justice, Chancery Division, Companies Court in cases No. 9073 to 9080 of 2013;
    • Providing an expert opinion for the company and counsel in the matter of New World Resources, N.V. on whether its proposed Scheme of Arrangement would qualify for recognition as a foreign main proceeding under chapter 15 of the U.S. Bankruptcy Code, and whether a U.S. Bankruptcy Court would grant additional relief giving effect to releases of New World and non-Debtor affiliate guarantors. My opinion was submitted to the High Court of Justice, Chancery Division, Companies Court in 2014;
    • Numerous engagements for creditors and contract counterparties of debtors involved in foreign proceedings, for foreign creditors involved in proceedings under the United States Bankruptcy Code; and
    • Numerous engagements in structuring transactions to anticipate and minimize the implications of the insolvency of U.S. and non-U.S. counterparties.

Study and reform of international insolvency law; leadership roles in national and international associations; assisting United States government agencies and a United Nations Commission:

  • International Bankruptcy Subcommittee of the Business Bankruptcy Committee of the American Bar Association, which I chaired from 1990 to 1995;
  • Committee J (Insolvency) of the International Bar Association where I served as vice chair from 2003 to 2004;
  • Adviser to the American Law Institute’s Transnational Insolvency Project from 1994 to 2000, which produced International Statements of Bankruptcy Law for the NAFTA countries, published in 2003;
  • Founding Member of the International Insolvency Institute;
  • Participant in Colloquia sponsored by the United Nations Commission on International Trade Law (UNCITRAL) that led to consideration by the UNCITRAL Working Group on Insolvency Law of cross-border insolvency law issues and domestic insolvency law issues;
  • Participant in the Working Group on Insolvency Law that produced the UNCITRAL Model Law on Cross-Border Insolvency, including participation in the “expert group” and “small drafting” group which were responsible for much of the drafting of the Model Law;
  • Participant in the Working Group that produced the UNCITRAL Legislative Guide on Insolvency Law, including active participation in the “expert group”;
  • Participant in an advisory group formed by the United States Department of State, Office of Legal Advisor, that consulted throughout the two UNCITRAL projects and on the drafting of Chapter 15 of the Bankruptcy Code;
  • Primary draftsman (with Professor Jay Westbrook of the University of Texas Law School) of the United States adaptation of the UNCITRAL Model Law, Chapter 15 of the United States Bankruptcy Code, Cross-Border and Other Ancillary Cases and assistance to Congress in connection with its enactment. Chapter 15 adopts the UNCITRAL Model Law on Cross-Border Insolvency and governs both access to the United States court systems by representatives of foreign insolvency proceedings and also coordination and communication between insolvency proceedings pending in the United States and other countries;
  • Conferee of the National Bankruptcy Conference and Vice-Chair of the Committee on International Aspects. The Conference is a voluntary, non-profit, self-supporting organization of about sixty-five lawyers, law professors and bankruptcy judges who have achieved scholarly distinction in the field of bankruptcy law. Its purpose is to study the operation of bankruptcy and related laws and proposals for their reform. My work with the NBC results in frequent consultation with Congressional staff on issues pertaining to cross-border insolvency and in periodic drafting of amendments to Chapter 15; and
  • Presentations on Chapter 15 to over 20 law firms and advisory firms in London and Toronto, presentation on Chapter 15 at a conference of the Insolvency Institute of Canada, two courses on Chapter 15 to United States Bankruptcy Judges at workshops organized by the Federal Judicial Center, author of the Chapter 15 portion of the leading U.S. insolvency treatise, presentations at numerous conferences in the United States, England, Finland, France, Germany, Spain, Korea, Thailand, Mexico and the Caribbean. For the spring academic semesters of 2008 through 2014, I served as an adjunct professor teaching a course on international insolvency law with a focus on Chapter 15. The course was presented at New York University Law School for two years, at Columbia Law School for three years and for last year and the current year, at St. John’s University Law School. The course is sponsored by the American College of Bankruptcy and is also taught by simultaneous video conference at several additional law schools.