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Supreme Court of the United States › Bankruptcy Court

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Proskauer Rose LLP

From Opioids to Opt-Outs: Nonconsensual Third-Party Releases and the Aftermath of Purdue

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On June 27, 2024, the U.S. Supreme Court released its 5-4 opinion in connection with the bankruptcy case of Purdue Pharma L.P. (“Purdue”). Over a vigorous dissent authored by Justice Kavanaugh, a narrow majority of the...more

Hinshaw & Culbertson - Insights for Insurers

How the U.S. Supreme Court's Rulings on Kaiser and Purdue Pharma Affect Insurers' Rights and Interests in Chapter 11 Cases

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On June 6, 2024, the United States Supreme Court issued its decision on an insurer’s standing in its policyholders’ Chapter 11 bankruptcy proceeding in Truck Exchange v. Kaiser Gypsum Co., 144 S. Ct. 1414 (2024). The decision...more

Pillsbury Winthrop Shaw Pittman LLP

No Comity Tonight

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U.S. Bankruptcy Court does not enforce an asset freeze order from a Brazilian insolvency proceeding recognized under chapter 15 of the Bankruptcy Code. Recognition of a foreign proceeding under chapter 15 of the Bankruptcy...more

Seward & Kissel LLP

Red River Rivalry, Ethical Lapse, Containment Facility, and Affirmative Consent

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J&J talc opponents decry bankruptcy as "deja vu all over again" | Reuters - Johnson & Johnson's latest bankruptcy attempt faced immediate opposition from cancer victims' attorneys. They argued that the bankruptcy was a...more

Fox Rothschild LLP

New Jersey Bankruptcy Courts Remain a Strong Option for Debtors Seeking to Obtain a Third-Party Release in a post-Purdue Pharma...

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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

Cranfill Sumner LLP

Supreme Court Sends Earthquake Through Bankruptcy Cases, Past, Present, and Future

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The legal wrangling over Purdue Pharma, L.P.’s bankruptcy plan has been splashed over the news. In Purdue Pharma’s case, the reorganization plan called for Purdue Pharma to become a non-profit organization, while the Sackler...more

Fox Rothschild LLP

The Impact of Purdue Pharma

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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

Faegre Drinker Biddle & Reath LLP

Post-Purdue Pharma, Two Bankruptcy Courts Chime In on Preliminary Injunctive Relief for Nondebtors

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For decades, bankruptcy courts have extended the automatic stay through preliminary injunctions halting litigation against a debtor’s nondebtor codefendants. Such relief was relatively routine when the codefendants were the...more

Patterson Belknap Webb & Tyler LLP

Staying Litigation Against Insiders After Harrington v. Purdue Pharma L.P.

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In Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024) (“Purdue”), the Supreme Court held that the Bankruptcy Code does not authorize nonconsensual releases of nondebtors as part of a chapter 11 plan. The Court narrowly...more

Jones Day

U.S. Supreme Court Bankruptcy Update

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The U.S. Supreme Court handed down three bankruptcy rulings to finish the Term ended in July 2024. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance...more

Tyson & Mendes LLP

A Seat at the Table: Supreme Court Rules Insurers Have a Right to Be “Heard on Any Issue” in Chapter 11 Cases

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On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al. The Court held an insurer with financial responsibility for claims in bankruptcy...more

Eversheds Sutherland (US) LLP

US Supreme Court weighs in on nonconsensual third-party releases in bankruptcy

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The US Supreme Court has recently issued a pivotal decision that has significant implications across various sectors, including legal, corporate, and public health. The decision settles a significant legal dispute that has...more

Hogan Lovells

Optimizing Your Future (Part II): An Update After the Supreme Court’s Landmark Decision in Purdue

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The Supreme Court’s landmark decision in Harrington v. Purdue Pharma L.P. – holding that the Bankruptcy Code does not authorize the release of third-party claims against non-debtors in a reorganization plan without the...more

Rivkin Radler LLP

Insurance Update - July 2024

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It’s not often that the U.S. Supreme Court weighs in on insurance issues. That’s because the McCarran-Ferguson Act gives states the primary authority to regulate the business of insurance. So when the Supreme Court speaks on...more

Snell & Wilmer

SCOTUS Decides Against Sacklers’ Release in Purdue Pharma

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On June 27, 2024, the U.S. Supreme Court issued its much-anticipated decision in Harrington v. Purdue Pharma L.P. The issue before the Court was whether the Bankruptcy Code permits nondebtors to obtain a release of...more

Pillsbury Winthrop Shaw Pittman LLP

Purdue Pharma and the Future of Nonconsensual Third-Party Releases in Chapter 15 Cases

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The U.S. Supreme Court’s decision in Purdue holds that a chapter 11 plan may not release non-debtors from third-party claims unless an affected claimant consents. On June 27, 2024, the U.S. Supreme Court issued a...more

Blake, Cassels & Graydon LLP

Impact transfrontalier de la décision de la Cour suprême des États-Unis dans l’affaire Harrington v. Purdue Pharma L.P.

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Le 27 juin 2024, la Cour suprême des États-Unis a publié une décision très attendue qu’elle a rendue dans l’affaire William K. Harrington, United States Trustee, Region 2, Petitioner v. Purdue Pharma L.P. et al. (l’« affaire...more

Blake, Cassels & Graydon LLP

Cross-Border Implications of the U.S. Supreme Court’s Decision in Harrington v. Purdue Pharma L.P.

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On June 27, 2024, the Supreme Court of the United States released its highly anticipated decision in William K. Harrington, United States Trustee, Region 2, Petitioner v. Purdue Pharma L.P. et al. (Purdue). At issue was...more

Rivkin Radler LLP

Supreme Court Rejects Purdue Pharma’s Bankruptcy Plan

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On June 27, 2024, the U.S. Supreme Court blocked a $6 billion bankruptcy settlement in Harrington v. Purdue Pharma L. P., No. 23-124, 2024 WL 3187799, at *11 (U.S. June 27, 2024). The Court found that the Bankruptcy Code does...more

Ballard Spahr LLP

Supreme Court: No Nonconsensual Nondebtor Releases in Bankruptcy

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In Harrington v. Purdue Pharma L.P. et al., the U.S. Supreme Court held that nonconsensual releases of third-party claims against nondebtors are not authorized under the Bankruptcy Code, resolving a longstanding circuit...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Denies Nonconsensual Third-Party Releases in Purdue

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On June 27, 2024, in one of its most high-profile bankruptcy decisions, the U.S. Supreme Court decided Harrington v. Purdue Pharma L.P., et al., No. 23-124, holding that the U.S. Bankruptcy Code does not authorize releases...more

Paul Hastings LLP

The Purdue Decision on Third Party Releases and Its Practical Implications

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In a landmark decision that will significantly impact future reorganization plans, the Supreme Court categorically held in Harrington v. Purdue Pharma L.P., that bankruptcy courts lack the authority to approve nonconsensual...more

Vinson & Elkins LLP

SCOTUS in Purdue: Non-Debtor Third-Party Releases Are Not Permitted in Chapter 11 Plans Without Consent

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On June 27, 2024, the United States Supreme Court (the “Supreme Court” or “Court”) rendered a 5-4 opinion in Harrington v. Purdue Pharma, L.P. that “the [B]ankruptcy [C]ode does not authorize a release and injunction that, as...more

Lowenstein Sandler LLP

Purdue Pharma: Supreme Court Prohibits Non-Consensual Third-Party Releases; Ruling Will Reshape Bankruptcy Practice

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In a landmark 5-4 decision in Harrington v. Purdue Pharma that will significantly reshape corporate bankruptcy practice, the U.S. Supreme Court resolved a circuit split regarding the authority of a bankruptcy court to approve...more

Fox Rothschild LLP

The Circuit City Landmine Redux, the Final Word (Office of the United States Trustee v. John Q. Hammons Fall 2006, LLC): Supreme...

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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

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