Breaking Down the Latest Decision in the Purdue Pharma Case
Publishers Clearing House files for bankruptcy | Law360 - Publishers Clearing House filed for Chapter 11 bankruptcy and plans to reorganize its capital structure and improve its long-term growth trajectory....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
Following the U.S. Supreme Court’s ruling in Harrington, United States Trustee, Region 2 v. Purdue Pharma L.P, et al., which disallowed non-consensual third-party releases in Chapter 11 plans of reorganizations, bankruptcy...more
They say every man needs protection, they say that every man must fall. For over 40 years, “the bankruptcy community has recognized the resolution of mass tort claims as a widely accepted core function of bankruptcy courts,”...more
David Conaway reports on a recent Chapter 11 plan of reorganization submitted by Purdue Pharma (Oxycontin) to resolve a mass tort claim. The Supreme Court of the United States (SCOTUS) is having difficulty swallowing the...more
On May 30, 2023, the United States Court of Appeals for the Second Circuit issued an order affirming a Chapter 11 Bankruptcy Plan that included nonconsensual third-party claim releases in In Re: Purdue Pharma L.P. et al. v....more
Non-consensual third-party releases are provisions in reorganization plans that release non-debtor parties from liability to other non-debtor parties without the consent of all potential claimholders. These releases are...more
On March 28, 2023, the United States District Court for the District of Delaware (the “District Court”) rendered an opinion (the “Opinion”) affirming the confirmation order of Laurie S. Silverstein, of the United States...more
Two recent decisions by U.S. District Courts have rejected attempts to include nonconsensual third party releases in chapter 11 reorganization plans. These rulings suggest third party releases may be facing increasing push...more
This past year was marked by extraordinary deal activity. Record breaking M&A activity drove record breaking private credit activity. Private equity M&A activity was at a substantial high, with over 8,500 deals worth $2.1...more