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Post Siegel Ruling: Tenth Circuit Orders Refunds for Overpayment of U.S. Trustee Fees

The Bankruptcy Protector

On June 6, 2022, the Supreme Court issued a unanimous ruling in Siegel v. Fitzgerald, 142 S. Ct. 1770 (U.S. June 6, 2022) that the increase in fees payable to the U.S. Trustee system in 2018 violated the uniformity aspect of the Bankruptcy Clause of the Constitution because it was not immediately applicable in the two states with Bankruptcy Administrators rather than U.S. Trustees.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, US Congress, Supreme Court of the United States, Federal Circuit, Tenth Circuit, US Court of Federal Claims
Dousing the phoenix - an initial decision on Australia’s creditor defeating dispositions regime

The first case has been decided under Australia’s statutory powers to set aside “creditor defeating dispositions”.

Australia, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Australian Securities and Investments Commission, Corporations Act 2001 (Australia), Treasury Laws Amendment (Combatting Illegal Phoenixing) Act 2020 (Australia), Victoria Supreme Court
11th Circuit Approves of Third-Party Releases Despite Debtor’s Failure to Comply with Strict Notice Requirements of Bankruptcy Rules

Overview

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Eleventh Circuit
Revisiting the Supreme Court’s 2020 Decision in Acevedo Barring Entry of Nunc Pro Tunc Orders: How to Ensure Your Employment and Fee Applications are Properly Approved

The Bankruptcy Protector

USA, Employment & Labor, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Supreme Court of the United States
Probuild - administrators obtain extension of ‘no personal liability period’ for leased property

On 23 February 2022, WBHO Australia Pty Ltd and 17 other companies in the Probuild group (Probuild, or the Group), entered voluntary administration in Australia. Probuild is one of the largest construction groups in Australia, working on many large office, residential and resources related construction projects across the country.

Australia, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Coronavirus, Financial Conduct Authority (UK), Corporations Act 2001 (Australia)
Eleventh Circuit Announces Differing Standards for Approval of Third Party Releases

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Eleventh Circuit
U.S. Supreme Court Seems Poised to Address Constitutionality of 2018 U.S. Trustee Fee Increase

Back in July, Craig Eller wrote in The Bankruptcy Protector about the continuing confusion amongst courts and litigants regarding the applicability of a 2018 increase in fees payable to the Office of the United States Trustee in chapter 11 cases.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP
Tma submissions on Australian creditors’ scheme of arrangement consultation

On 2 August 2021, the Treasury released a consultation paper seeking feedback on changes to improve creditors’ schemes of arrangement in Australia (the Consultation Paper). The submissions process has now closed.

Australia, Capital Markets, Insolvency & Restructuring, Herbert Smith Freehills LLP, Moratorium, Debtor in possession, Debt restructuring, Creditors' rights, Australian Securities and Investments Commission
Treasury consults on Australian creditors’ schemes of arrangement reforms

The Treasury has released a consultation paper on changes to improve creditors’ schemes of arrangement in Australia (the Consultation Paper).[1] The main proposal in the Consultation Paper is the consideration of a broad automatic moratorium, available to companies proposing a creditors’ schem

Australia, Insolvency & Restructuring, Herbert Smith Freehills LLP, Coronavirus, Corporations Act 2001 (Australia)
Recognition of UK Part A1 Moratorium process rejected by NSW Supreme Court

In the recent case of Re Hydrodec Group Plc [2021] NSWSC 755 (Hydrodec) the Supreme Court of New South Wales (NSW Supreme Court or Court) rejected an application by a non-operating holding company, Hydrodec Group Plc (the Company), for recognition of its United Kingdom (UK) debtor-in-possession Part A1 moratorium process (Part A1 Moratorium) and relief from a winding up application being made against the Company in Australia.

Australia, United Kingdom, USA, New South Wales, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Corporations Act 2001 (Australia)