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
The Ninth Circuit has generally prohibited nonconsensual third-party releases in bankruptcy reorganization plans since at least 1949. See In re Lowenschuss, 67 F.3d 1394, (9th Cir. 1995) (citing Commercial Wholesalers, Inc....more