Davis Polk advised the foreign representative of ENNIA Caribe Holding N.V. and certain of its subsidiaries in connection with petitioning the U.S. Bankruptcy Court for the Southern District of New York for recognition of ENNIA’s restructuring proceedings in Curaçao in the United States under Chapter 15 of the U.S. Bankruptcy Code.
ENNIA is an insurance company in Curaçao and St. Maarten that offers a wide variety of products, including life insurance, casualty insurance, health insurance and pensions. ENNIA is regarded as a systemically important insurer in Curaçao and St. Maarten because of its scale relative to the size of those countries and the degree to which the people of Curaçao and St. Maarten rely on pensions that ENNIA provides to supplement a limited government pension scheme.
The Davis Polk restructuring team included partner Timothy Graulich and associates Adam L. Shpeen, Dylan A. Consla and Mary A. Prager. The litigation team included partner James I. McClammy and associate Andrew J. Pearlman. All members of the Davis Polk team are based in the New York office.