In a highly anticipated decision issued last Thursday (on December 19, 2019), the United States Court of Appeals for the Third Circuit held in In re Millennium Lab Holdings II, LLC that a bankruptcy court may constitutionally confirm a chapter 11 plan of reorganization that contains nonconsensual third-party releases. The court considered whether, pursuant to the United States Supreme Court’s decision in Stern v. Marshall, 564 U.S. 462 (2011), Article III of the United States Constitution prohibits a bankruptcy court from granting such releases.

Gothard v Fell; in the matter of Allco Financial Group Ltd (receivers and managers appointed) (in liq) (2012) 88 ACSR 328

On 15 May 2012, Jacobson J of the Federal Court of Australia allowed an application by Receivers to be released from confidentiality undertakings so that use could be made of Australian Securities and Investments Commission (ASIC) examination transcripts.

On 5 October 2011, the NSW Supreme Court upheld an application pursuant to s 440D(1) of the Corporations Act 2001 (Cth) (the Corporations Act) for leave to bring and continue proceedings against a defendant under voluntary administration.