The restructuring industry held its proverbial breath following the Supreme Court’s decision in Harrington v. Purdue Pharma L.P., which invalidated the nonconsensual third-party release in the debtors’ plan. While various...more
It has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies around the country. In September...more
8/30/2024
/ Bankruptcy Court ,
Bankruptcy Trustees ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Harrington v Purdue Pharma L P ,
Mass Tort Litigation ,
Opioid ,
Opt-In ,
Opt-Outs ,
Purdue Pharma ,
Reorganizations ,
SCOTUS ,
Third-Party
Pursuant to the New Jersey Bankruptcy Court’s (the “Court”) annual rule making cycle, the Court implemented various changes to the New Jersey Local Rules and Local Forms, which became effective on August 1, 2024. ...more
As previously discussed and anticipated in prior blog posts, the United States Supreme Court’s decision in Siegel v. Fitzgerald, 596 U.S. 464, 142 S.Ct. 1770, 213 L.Ed.2d 39 (2022), which struck down as unconstitutional the...more
6/27/2024
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Bankruptcy Trustees ,
Chapter 11 ,
Creditors ,
Debtors ,
Disparate Treatment ,
Fees ,
Overpayment ,
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Siegel v Fitzgerald 596 US ,
Siegel v. Fitzgerald ,
Trustees
Kaiser Gypsum Company Inc. and Hanson Permanente Cement, Inc. (collectively, the “Debtors”), manufacturers of asbestos-containing cement products, filed for chapter 11 bankruptcy on September 30, 2016 (“Petition Date”) in the...more
The LTL Management, LLC (“LTL” or the “Debtor”) bankruptcy saga may be coming to an end for a second time, at least for now.
On January 30, 2023, the Third Circuit issued its opinion reversing the Bankruptcy Court after...more