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Debtors Purdue Pharma Supreme Court of the United States

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...

Fox Rothschild LLP on

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

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

Mayer Brown

I Shall (Not) Be Released: With Purdue Pharma Decision, US Supreme Court Remakes Chapter 11 Landscape

Mayer Brown on

They say every man needs protection, they say that every man must fall. For over 40 years, “the bankruptcy community has recognized the resolution of mass tort claims as a widely accepted core function of bankruptcy courts,”...more

Nelson Mullins Riley & Scarborough LLP

Purdue Pharma Plan Blocked, Supreme Court Bars Third-Party Releases in Bankruptcy

A sharply divided U.S. Supreme Court has barred the issuance of non-consensual third-party releases in Chapter 11 Plans. In a 5-4 decision, the court held that “the bankruptcy code does not authorize a release and injunction...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

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

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

Seward & Kissel LLP

Supreme Test for Releases, Trucking into Bankruptcy, We Might Not Work Anymore, and Crypto Criticism

Seward & Kissel LLP on

Supreme Court puts Purdue Pharma bankruptcy deal on hold | NBC - The Supreme Court has blocked an appeals court decision that had allowed Purdue Pharma’s restructuring plan to move forward effectively putting the plan on...more

Seward & Kissel LLP

Building Blocks, LTL 2.0 DOA, FTX First Try, and UST Last Chance Saloon

Seward & Kissel LLP on

BlockFi’s Chapter 11 plan progresses with conditional court approval | Cointelegraph - United States Bankruptcy Court for the District of New Jersey recently conditionally approved Blockfi’s disclosure statement. If the...more

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