Former British business star Paul Kemsley got a thumbs-down last Friday from a New York bankruptcy judge who was asked to shield Kemsley’s U.S. assets while a court in London helps him deal with creditors.
Judge James M. Peck of the U.S. Bankruptcy Court in Manhattan denied a U.K. trustee’s request to shield Kemsley’s U.S. assets under Chapter 15 of the Bankruptcy Code, which would have protected Kemsley from creditor action in the U.S. pending a resolution of the U.K. proceedings.
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