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On January 13, 2015, the U.S. Court of Appeals for the Second Circuit denied a petition for en banc review of the Second Circuit’s September 2014 panel decision holding that bankruptcy courts are required to review the propriety of a Chapter 15 debtor’s transfers of property interests within the territorial jurisdiction of the U.S., even if such a transfer has already been approved in the debtor’s foreign proceeding. This decision represents a departure from prior cases, in which U.S. judges often enforced foreign court orders based on principles of comity and prohibited challengers from “re-litigating” such disputes in the U.S. Absent consideration and reversal by the U.S. Supreme Court, the Second Circuit’s opinion and subsequent denial of en banc review could signal a paradigm shift in Chapter 15 jurisprudence and is sure to be cited with fervor by litigants in future Chapter 15 proceedings. The decision may als