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
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
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
Guarantors of loans occupy a vulnerable position under California law. While direct borrowers often benefit from California’s robust statutory anti-deficiency framework, those protections are often unavailable for...more
In the first six months of 2014 the Supreme Court has already issued two opinions concerning the authority of the bankruptcy courts. The first opinion, Law v. Siegel, 134 S. Ct. 1188 (2014), was issued in March. In Law,...more
A recent ruling from the U.S. Bankruptcy Court for the Southern District of New York illustrates the limited, specific grounds for changing or terminating chapter 15 recognition. The ruling demonstrates that recognition may...more