Premium Point Master Mortgage Credit Fund Ltd.’s petitions under Chapter 15 of the U.S. Bankruptcy Code


Schulte successfully represented Jeffrey Stower and Kris Beighton of KPMG in the Cayman Islands in their capacity as foreign representatives of Premium Point Master Mortgage Credit Fund Ltd. and seven of its affiliated offshore funds (collectively, the “Premium Point Entities”) in the filing of petitions under Chapter 15 of the U.S. Bankruptcy Code.

On March 26, 2018, a federal judge entered an order recognizing the Premium Point Entities’ Cayman liquidation proceedings as “foreign main proceedings.” This significant relief stayed all actions and proceedings against the Premium Point Entities and their property in the United States.

The Schulte team representing Mr. Stowerand Mr. Beighton was led by litigation partner Harry Davis (Picture), business reorganization special counsel James Bentley and litigation associate Christian (Coby) Ascunce.

Involved fees earner: Harry Davis – Schulte Roth & Zabel; James Bentley – Schulte Roth & Zabel; Christian Ascunce – Schulte Roth & Zabel;

Law Firms: Schulte Roth & Zabel;

Clients: Jeffrey Stower; Kris Beighton;

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Author: Ambrogio Visconti