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Third-Party Chapter 15

Pillsbury Winthrop Shaw Pittman LLP

Purdue Pharma and the Future of Nonconsensual Third-Party Releases in Chapter 15 Cases

The U.S. Supreme Court’s decision in Purdue holds that a chapter 11 plan may not release non-debtors from third-party claims unless an affected claimant consents. On June 27, 2024, the U.S. Supreme Court issued a...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

Jones Day

Business Restructuring Review | July-August 2021

Jones Day on

Chapter 15 Update: U.S. Bankruptcy Court Refuses To Enforce Order Approving Indonesian Debt Restructuring Plan Due To Third-party Releases - Cross-border bankruptcy cases filed in the U.S. under chapter 15 of the...more

Cadwalader, Wickersham & Taft LLP

Fifth Circuit Crafts New Test For Foreign Debtor Relief

Originally published in the New York Law Journal on January 3, 2012. On Nov. 28, 2012, the U.S. Court of Appeals for the Fifth Circuit in In re Vitro S.A.B. de C.V. issued a groundbreaking decision under Chapter 15 of...more

Cadwalader, Wickersham & Taft LLP

Fifth Circuit Crafts New Test For Foreign Debtor Relief

Originally published in the New York Law Journal on January 3, 2012. On Nov. 28, 2012, the U.S. Court of Appeals for the Fifth Circuit in In re Vitro S.A.B. de C.V. issued a groundbreaking decision under Chapter 15 of...more

Sheppard Mullin Richter & Hampton LLP

Fifth Circuit Refuses to Enforce Mexican Reorganization Plan's Proposed Release of Non-Debtor Bond Guarantors

The Fifth Circuit recently upheld a Texas Bankruptcy Court’s refusal to enforce non-debtor third party releases in the Mexican reorganization proceeding (known as a concurso mercantil) of Mexican glass manufacturer Vitro SAB...more

Mintz

Bankruptcy Abroad: US Creditors’ Rights Remain Relevant in Chapter 15

Mintz on

With an increasing number of businesses operating without regard to borders in today’s global economy, the importance of understanding Chapter 15 — the Bankruptcy Code provisions instructing the cooperation between the United...more

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