- Who is impacted: Companies and organizations involved in cross-border insolvency proceedings, particularly those seeking to enforce or challenge nonconsensual third-party releases in the United States. - What is changing:...more
The US Bankruptcy Courts for the District of Delaware and the Southern District of New York recently issued decisions that (1) highlight the difference between relief available under chapter 11 and chapter 15 and (2) provide...more
Last year, the U.S. Supreme Court barred the use of nonconsensual third-party releases in Chapter 11 cases, holding that the Bankruptcy Code did not provide a basis to nonconsensually release claims against third parties...more