FOREIGN REPRESENTATIVE PROVIDES PERSPECTIVE TO NYU LAW STUDENTS

For the 5th consecutive year, KRyS Global’s Executive Chairman, Kenneth Krys, was guest lecturer at the New York University School of Law, speaking from the perspective of Foreign Representative on the development and application of Chapter 15 of the US Bankruptcy Code and central to its determination, the location of foreign entity’s center of main interest (COMI). Invited by retired Chief Judge of the Southern District of New York, Arthur Joseph Gonzalez, Krys shared his experiences and thinking when making the various Chapter 15 applications he had made over the years and addressing the question of COMI, with significant emphasis on two major decisions impacting Caribbean offshore jurisdictions, the Sphinx Group of Funds and Fairfield Sentry. He also discussed the impact that other significant Chapter 15 decisions pertaining to the offshore financial centers had on the local insolvency practitioners and seeking recognition in the United States. Speaking after the lecture held March 8th, 2017, Mr. Krys explained that this was an event he truly looked forward to every year. “The opportunity to share my experiences and perspective is particularly satisfying. Hopefully this new wave of attorneys will have a better appreciation of the some of the obstacles and issues that offshore liquidators face when dealing with concepts that do not always fit in neatly with the unique attributes and workings in offshore jurisdictions and financial instruments.”