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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
Plans and Schemes of Arrangement in the British Virgin Islands

The British Virgin Islands ("BVI") is a long-standing jurisdiction of choice for incorporating joint venture and private equity vehicles. In more recent years it has also become an established option for investment funds. This is due to its business-friendly and flexible main corporate statute, the BVI Business Companies Act (the "Act"), as well as the BVI’s modern regulatory and judicial regime.

Plans and Schemes of Arrangement in the British Virgin Islands

British Virgin Islands, Insolvency & Restructuring, Private Client & Offshore Services, Carey Olsen
BVI Dispute Resolution & Insolvency Client Update - October 2016

In the October 2016 edition of our dispute resolution and insolvency bulletin we will be focusing on six recent cases from the BVI Court of Appeal and BVI Commercial Court.

OVERVIEW

The cases, include:

British Virgin Islands, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Carey Olsen