News & Analysis as of

Commercial Bankruptcy Supreme Court of the United States Opioid

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

Cranfill Sumner LLP

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

Cranfill Sumner LLP on

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

Fox Rothschild LLP on

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

Eversheds Sutherland (US) LLP

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

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

Snell & Wilmer

SCOTUS Decides Against Sacklers’ Release in Purdue Pharma

Snell & Wilmer on

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

Seward & Kissel LLP

Last Hurrah, Noodling on Chicken Soup and No R&R for J&J

Seward & Kissel LLP on

Purdue Pharma secures litigation ceasefire after US Supreme Court ruling | Reuters - On Tuesday, U.S. Bankruptcy Judge Sean Lane granted Purdue Pharma court approval for a 60-day freeze on lawsuits against the Sackler...more

Ballard Spahr LLP

Supreme Court: No Nonconsensual Nondebtor Releases in Bankruptcy

Ballard Spahr LLP on

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

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

Paul Hastings LLP on

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

Katten Muchin Rosenman LLP

U.S. Supreme Court Removes Nonconsensual Releases From The Bankruptcy Plan Quiver

On June 27, the U.S. Supreme Court announced a 5-4 decision rejecting the nonconsensual releases of the Sackler family in the Purdue Pharma bankruptcy case. The split is an interesting alignment of Justices: Gorsuch writing...more

Lowenstein Sandler LLP

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

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

Miller Canfield

In Purdue Pharma, Supreme Court Rules That Nonconsensual Releases Are A Nonstarter

Miller Canfield on

On June 27, 2024, the United States Supreme Court issued its long-awaited opinion in Harrington v. Purdue Pharma L.P., holding that the Bankruptcy Code does not permit nonconsensual releases of nondebtors. As a...more

White and Williams LLP

SCOTUS Curtails Third-Party Releases, Prospectively Derails Mass Tort Chapter 11 Plans

White and Williams LLP on

In perhaps the most significant Supreme Court bankruptcy ruling since Stern v. Marshall, the Supreme Court today—by a 5-4 majority—overruled the Second Circuit’s approval of the Purdue Pharma Chapter 11 plan and its...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Harrington v. Purdue Pharma L.P.

On June 27, 2024, the U.S. Supreme Court decided Harrington v. Purdue Pharma L.P., No. 23-124, holding that the Bankruptcy Code does not authorize a release and injunction that, as part of a plan of reorganization under...more

Epstein Becker & Green

Another Leak Confirmed and Other Important Decisions and Divisions Issued, but Not Loper or Trump - SCOTUS Today

Epstein Becker & Green on

The Supreme Court’s day started with the specter of yet another leak of a reproductive rights decision having occurred....more

Kerr Russell

U.S. Supreme Court to Address Permissibility of Non-Consensual Third-Party Releases in Chapter 11 Bankruptcy Plans

Kerr Russell on

As the calendar turns to autumn, the United States Supreme Court (“SCOTUS”) is commencing its new term and preparing to address a monumental issue that will impact chapter 11 law and the mass tort system: the permissibility...more

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