I recently came across a situation where someone unwisely sought the advice of one of those late night television bankruptcy attorneys offering the deal of the century. You know the one. Well, unfortunately certain foreign property holdings were not disclosed and the court came very close to denying the debtor’s bankruptcy petition. In a very similar case, the court held the … [Read more...]
Yes, Your Foreign Company Can File for U.S. Chapter 11 Bankruptcy Protection.
Several months ago, I handled a matter on behalf of a foreign company that filed for Chapter 11 bankruptcy protection here in the U.S. When I explained the general details of this case to a seasoned bankruptcy attorney, whom I had run into at legal seminar, I was surprised that he didn't think it was possible for a foreign company to do so. I went on to tell them that not … [Read more...]
Brazil Joins the Convention on Contracts for the International Sale of Goods (CISG). It's About Time.
It's almost everyday now that I get an email or phone call from a Brazilian investor looking to do business in the U.S. (usually in Miami) or a U.S. investor looking to do business in Brazil. It's not exactly a surprise given the enormous trade numbers the two countries are putting up---$100 Billion in 2011 alone. Presently, the rules for entering into an international sales … [Read more...]
How to Terminate Your International Employees: An Overview.
Several weeks ago I received a call from the legal department of a U.S. company with operations in Asia. The company was looking to downsize its operations in the region and was unsure of its obligations in terminating this group of employees. The caller was right to be concerned. While terminating an individual employee here in the U.S. can be fraught with legal … [Read more...]
The One Thing to Remember on Your Next International Business Trip.
I received an email from a client several weeks ago who was getting ready to travel overseas to meet with his new business partners on a major international distribution deal. Because the client had never been to this part of the world, he was concerned that he would inadvertently “commit some cultural faux paus” and do something that would potentially blow the deal. I … [Read more...]