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IN RE TOFT

No. 11-11049 (ALG).

453 B.R. 186 (2011)

In re Dr. JÜRgen TOFT, Debtor in a Foreign Proceeding.

United States Bankruptcy Court, S.D. New York.

July 22, 2011.

Attorney(s) appearing for the Case

Haynes and Boone, LLP, By: Judith Elkin, Esq. , New York, NY, for Dr. Martin Prager, Insolvency Administrator in Germany for Dr. Jürgen Toft.

Tracy Hope Davis , By: Elizabetta Gasparini, Esq. , New York, NY, for United States Trustee.

MEMORANDUM OF OPINION

ALLAN L. GROPPER, Bankruptcy Judge.

INTRODUCTION

The applicant, Dr. Martin Prager ("Prager" or the "Foreign Representative"), is the insolvency administrator in a proceeding in Germany regarding Dr. Jürgen Toft ("Toft" or "the Debtor"), an orthopedic surgeon who assertedly has debts exceeding 5.6 million euros ($7.6 million) owed to approximately 110 creditors. Prager initiated this chapter 15 proceeding...

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