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Commercial Bankruptcy Injunctions Bankruptcy Court

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

Jones Day

Fifth Circuit Reins in Bankruptcy Court Gatekeeping in Chapter 11 Plans

Jones Day on

Provisions in chapter 11 plans releasing non-debtors from liability for pre-bankruptcy conduct in exchange for funding for plan distributions or post-confirmation operations have long been used as a means to facilitate...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

Nelson Mullins Riley & Scarborough LLP

Purdue Does Not Bar Injunctions in Section 363 Sales, Says Recent Bankruptcy Decision

On January 24, 2025, the United States Bankruptcy Court for the Eastern District of Virginia entered an opinion denying a motion for a stay pending an appeal of a settlement motion in In re Hopeman Bros., Inc., No....more

Robins Kaplan LLP

Extra! Extra! Read All About It! Publication Notice of Claims Bar Date Satisfies Due Process Requirements

Robins Kaplan LLP on

In a recent decision involving the adequacy of publication as a means of notice to creditors, the United States Bankruptcy Court for the Southern District of New York reaffirmed the importance of a thorough bar date noticing...more

Morrison & Foerster LLP

‘LightSquared’: Defining the Permissible Boundaries of Plan Injunctions

Morrison & Foerster LLP on

On Oct. 7, 2015, the U.S. District Court for the Southern District of New York vacated a plan injunction that had been approved by the Bankruptcy Court in the Chapter 11 cases of LightSquared and certain of its affiliates...more

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