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Third-Party Bankruptcy Code Debtors

White and Williams LLP

A Funny Thing Happened to My Ground Lease in Bankruptcy Court

White and Williams LLP on

Ground leases are an important – if somewhat unusual – part of the real estate finance industry. Because they typically cover large expensive properties like Rockefeller Center and The Empire State Building, to name two, and...more

Lowenstein Sandler LLP

High Court Should Maintain Insurer Neutrality In Bankruptcy

Lowenstein Sandler LLP on

A recent Expert Analysis article penned by Frank Perch, "High Court Should Endorse Insurer Standing In Bankruptcy," advocates for the U.S. Supreme Court, in Truck Insurance Exchange v. Kaiser Gypsum Company Inc., to adopt 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

Latham & Watkins LLP

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

Latham & Watkins LLP on

Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more

Vinson & Elkins LLP

To Release or Not to Release? Courts Remain Split on Release Provisions

Vinson & Elkins LLP on

Third-party release provisions are a common feature of almost every chapter 11 plan in large bankruptcy cases. Despite this, there has long been a split among bankruptcy courts and Circuit Courts of Appeal on the scope and...more

Rosenberg Martin Greenberg LLP

Is the End Near for Third Party Releases In Chapter 11 Plans?

When the Bankruptcy Reform Act of 1978, the foundation on which the current Bankruptcy Code is constructed, was enacted, bankruptcy cases customarily involved a debtor addressing claims only against it. Consistent with that...more

Roetzel & Andress

Third-Party Releases Are Not Consistent with Bankruptcy Code: Creditors Can Still Maintain Direct Claims

Roetzel & Andress on

A federal district court judge in New York has vacated a bankruptcy court’s confirmation of the controversial Chapter 11 plan of Purdue Pharma, LP. The reorganization of Purdue Pharma sought to provide a release of all third...more

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