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Just “Released” by the Third Circuit: In re Millennium Lab Holdings II Key Takeaways

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.

USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
A Bridge Over Troubled Water: Singapore’s New Restructuring & Insolvency Framework Is Being Introduced When It Is Most Needed

Further to K&L Gates’ Singapore Restructuring and Insolvency Alert dated 5 December 2016,[1] Singapore’s revised restructuring and insolvency legislation has come into effect.

Singapore, Insolvency & Restructuring, K&L Gates LLP, Debt restructuring
Singapore's Restructuring Focus: Singapore - The New Hub of Asia Pacific Restructuring

In October 2016, Singapore’s Ministry of Law (“MOL”) launched a public consultation to gather public feedback on proposed amendments to the Companies Act for debt restructuring.[1]

Singapore, Insolvency & Restructuring, K&L Gates LLP