BRAC Rent-a-Car International Inc. Completes Cross-Border Insolvency Proceedings, Establishes Precedent

BRAC Rent-a-Car International Inc. completed Chapter 11 bankruptcy proceedings in the United States and administration proceedings in England. Patrick Corr represented BRAC and the administrators. During the proceedings, the English court confirmed for the first time that the EU Regulation on Insolvency Proceedings applied to a non-EU member state-incorporated entity with its center of main interests in the U.K.