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First Impressions: New York Bankruptcy Court Enforces Canadian Reverse Vesting Order in Chapter 15 Case

First Impressions: New York Bankruptcy Court Enforces Canadian Reverse Vesting Order in Chapter 15 Case

Oct 16, 2026

First Impressions: New York Bankruptcy Court Enforces Canadian Reverse Vesting Order in Chapter 15 Case

Corinne Ball, Dan Moss and Isel Perez of Jones Day examine a New York bankruptcy court decision enforcing a Canadian reverse vesting order in the Iovate Health Sciences restructuring, confirming that the absence of an equivalent mechanism under US bankruptcy law does not prevent recognition under Chapter 15 and that Canadian court-approved third-party releases can be enforced despite restrictions under Chapter 11.