Breaking Down the Latest Decision in the Purdue Pharma Case
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
The Supreme Court’s day started with the specter of yet another leak of a reproductive rights decision having occurred....more