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Jones Day

Washington Bankruptcy Court Approves Chapter 11 Plan Exculpation and Release Provisions

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There is longstanding controversy concerning the validity of release and exculpation provisions in non-asbestos trust chapter 11 plans that limit the potential exposure of various parties involved in the process of...more

Snell & Wilmer

Ninth Circuit Now Allows Some Nonconsensual Third-Party Releases in Chapter 11 Plans

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The Ninth Circuit has generally prohibited nonconsensual third-party releases in bankruptcy reorganization plans since at least 1949. See In re Lowenschuss, 67 F.3d 1394, (9th Cir. 1995) (citing Commercial Wholesalers, Inc....more

Carlton Fields

Accidentally On Purpose: Washington Court Finds Coverage For Contempt Of Court Based On “Misunderstanding”

Carlton Fields on

Professional liability policies cover claims based on the insured’s alleged negligent acts, errors or omissions, and not claims for “sanctions or penalties” for “willful” professional misconduct. But the insurer’s duty to...more

Obermayer Rebmann Maxwell & Hippel LLP

The Third Circuit Affirms the Denial of Third-Party Releases for Lack of Adequate Disclosure

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The Third Circuit Court of Appeals recently affirmed the decisions of the District and Bankruptcy Court denying, for reasons of inadequate disclosure, the approval of a third-party release provision in the Chapter 11 plan of...more

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