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  • Two-Step Aside: U.S. Bankruptcy Court Lets Canadian Reverse Vesting Order Waltz Through Chapter 15

Two-Step Aside: U.S. Bankruptcy Court Lets Canadian Reverse Vesting Order Waltz Through Chapter 15

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Insolvency Insider
May 22, 2026

Michael Schaedle, Evan Zucker and Jennifer Malow of Blank Rome examine the first detailed Second Circuit Chapter 15 opinion recognizing and enforcing a Canadian reverse vesting order, highlighting its importance for cross-border restructurings involving non-transferable licenses, tax attributes and contract continuity, while distinguishing RVOs from Texas Two-Step structures and underscoring the role of Canadian court supervision, monitor oversight and creditor protections.