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Creditors Releases

Venable LLP

The Evolving Status of Settlement Bar Orders after Purdue

Venable LLP on

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

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

Kramer Levin Naftalis & Frankel LLP

Delaware Bankruptcy Judge Rejects 'Consensual' Releases in Emerge Energy Chapter 11 Plan

The Honorable Karen B. Owens, sworn in as a Delaware Bankruptcy Judge on June 17, 2019, recently ruled that the third-party releases contained in Emerge Energy Services LP’s Chapter 11 plan were not consensually granted,...more

Kramer Levin Naftalis & Frankel LLP

Fifth Circuit Affirms Bar Orders in Receivership, Bars Creditors From Pursuing Claims Against Settling Defendants

In a 2-1 opinion dated July 22, 2019, the Fifth Circuit held that third parties who paid a receiver to settle estate claims against them are entitled to an order barring other creditors from suing the settling third parties...more

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