Category Archives: M & S Updates

Bruce Marks gave an interview to RIA News on Sovereign immunity

September 6, 2017
Bruce Marks gives interview to RIA News on the issues with the Russian diplomatic property in  US.
He points that the law of sovereign immunity connotes that a state, unless it chooses to waive its immunity, is immune to the jurisdiction of foreign courts and the enforcement of court order.

Article

Bruce Marks gave an interview to BBC

July 27, 2017

Bruce Marks gave an interview to BBC on the passed a bill that gives Congress the power to block any effort by the White House to weaken sanctions on Russia, offering a direct challenge to President Donald Trump’s authority.

BBC Article

In Re Foreign Economic Industrial Bank Limited, “Vneshprombank” Ltd. United States Bankruptcy Court for the Southern District of New York Case No. 16-13534

Marks&Sokolov successfully obtained an order granting recognition of the Russian “Vneshprombank” Ltd. insolvency proceeding under Chapter 15 in the U.S. Bankruptcy Court for the Southern District of New York.

Marks&Sokolov represents Russian bank “Vneshprombank” Ltd. that was declared bankrupt in spring 2016. The bank is now undergoing bankruptcy procedure under Russian bankruptcy laws.

On behalf of its client Marks&Sokolov filed a petition to the U.S. Bankruptcy Court for the Southern District of New York seeking to recognize Russian insolvency proceeding as the main foreign proceeding under Chapter 15 of the U.S. Bankruptcy Code.

Marks&Sokolov also asked the court to provide other relief in aid of the proceeding within the territory of the U.S.

The petition was granted by the court, as a result Russian bankruptcy proceeding was recognized as the “main foreign proceeding” and the bank received protection under the U.S. laws and a chance to use other relief provided by the U.S. Bankruptcy Code.