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Chapter 11 › Injunctions › Purdue Pharma

Jones Day

Purdue Prohibition of Nonconsensual Third-Party Chapter 11 Plan Releases Does Not Apply to Bankruptcy Asset Sales

Jones Day on

The U.S. Supreme Court's 2024 ruling in the Purdue Pharma bankruptcy cases generally prohibiting nonconsensual releases of non-debtors in chapter 11 plans sent shockwaves through the restructuring community. With one fell...more

Offit Kurman

Not All (Protection) is Lost After Purdue: Non-Debtor Owner Shielded by Bankruptcy Stay for Duration of Reorganization of His...

Offit Kurman on

Third-party releases may no longer provide a shield to owners and directors of a reorganized company. Still, a New York bankruptcy court recently paved the way for another constructive solution for the individual owner of a...more

Pillsbury Winthrop Shaw Pittman LLP

Gatekeeping Provisions in Chapter 11 Plans May Be Alternative to Nonconsensual Nondebtor Releases

Pillsbury Winthrop Shaw Pittman LLP on

Nonconsensual nondebtor releases have been a key reason businesses facing mass tort claims have filed for bankruptcy. They hope chapter 11 will result in a faster, less expensive resolution of mass tort claims than class...more

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