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Almatis refinancing stokes 'forum shopping' debate

The debate over companies filing for Chapter 11 was stoked further yesterday after German aluminium company Almatis unveiled a new refinancing

The heated debate over non-US companies filing for US bankruptcy proceedings has been stoked further after German aluminium company Almatis was accused of gaining “nothing” from Chapter 11 despite spending $20m in legal fees.

German aluminium company Almatis decided to file for Chapter 11 in the US in April, a controversial process known as "forum shopping".

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