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Supreme Court of the United States › Commercial Bankruptcy

The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary... more +
The United States Supreme Court is the highest court of the United States and is charged with interpreting federal law, including the United States Constitution. The Court's docket is largely discretionary with only a limited number of cases granted review each term.  The Court is comprised of one chief justice and eight associate justices, who are nominated by the President and confirmed by the Senate to hold lifetime positions. less -
Cozen O'Connor

Democratic AGs Go For Broke on PFAS Manufacturer Bankruptcy Deal

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A group of six Democratic AGs filed an objection to a proposed bankruptcy plan for firefighting foam manufacturer Kidde-Fenwal, Inc. (“KFI”), claiming that the deal would allow KFi to avoid billions in potential liabilities...more

Jones Day

U.S. Supreme Court Rules that Bankruptcy Code Provides Only Limited Abrogation of Sovereign Immunity to Avoidance Actions

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Bankruptcy trustees and chapter 11 debtors-in-possession ("DIPs") frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable...more

Proskauer Rose LLP

Slamming the Backdoor on Non-Consensual Third-Party Releases

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Non-Consensual Third-Party Releases are Not Permissible in Section 363 Sales or Rule 9019 Settlements, Regardless of the Suggestions of Some Bankruptcy Courts...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides United States v. Miller

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On March 26, 2025, the United States Supreme Court decided United States v. Miller, No. 23-824, resolving a circuit split and holding that in an action brought under § 544(b) of the bankruptcy code, § 106(a)’s sovereign...more

Akerman LLP

Purdue Pharma Foretells a Troubled Future for Bar Orders

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In Harrington v. Purdue Pharma L.P., the Supreme Court held that the Bankruptcy Code does not authorize a bankruptcy court to grant a release and injunction that extinguishes direct claims against nondebtor third parties...more

Jones Day

The Year in Bankruptcy: 2024

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The first full year of the post-COVID-pandemic era was characterized in the United States by continued economic recovery, persistently high consumer interest rates—despite three cuts in the benchmark federal funds rate in...more

Nelson Mullins Riley & Scarborough LLP

Delaware Bankruptcy Court Holds No General Exception to an Automatic Stay of Case After Denial of Arbitration in Bankruptcy Cases

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A December 13, 2024, opinion from Judge Walrath held that a 2023 decision from the U.S. Supreme Court in Coinbase, Inc. v. Bielski, 599 U.S. 736 (2023) requires staying prosecution of an adversary proceeding when the...more

Jones Day

Diocese of Rockville Centre Pioneers a Global Resolution for Itself, Its 136 Parishes, and its Settling Insurers Post-Purdue

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In order to resolve hundreds of Child Victims Act lawsuits alleging sexual abuse, the Diocese of Rockville Centre commenced chapter 11 to seek protection for itself, its parishes, and schools, as well as providing equitable...more

Skadden, Arps, Slate, Meagher & Flom LLP

Rockville Centre Case Offers a Framework for Settling Mass Tort Bankruptcy Claims Post-Purdue

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The Supreme Court’s 2024 Purdue decision1 held that the Bankruptcy Code does not authorize a release and injunction under a Chapter 11 plan of claims against a non-debtor, even if they relate to claims against or by the...more

Offit Kurman

2024: Year in Review: Third-Party Releases After Purdue Pharma

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The most notable decision in the bankruptcy world in 2024 was the Supreme Court’s decision in Purdue Pharma. Harrington v. Purdue Pharma, L.P., 144 S. Ct. 2071 (2024). At the heart of the fight in Purdue Pharma were...more

Nelson Mullins Riley & Scarborough LLP

United States v. Miller Oral Argument: Supreme Court Justices Seem Divided on Issues of Allowing a Trustee to Sue the IRS for...

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This author previously wrote an article published in Bloomberg Law regarding the Supreme Court’s decision to take up an appeal of a decision on the Tenth Circuit Court of Appeals in United States v. Miller. In Miller, the...more

Jones Day

Second Circuit: Settlement Allocating Value to Unsecured Creditors Without Paying Disputed Secured Claim Did Not Violate Supreme...

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In Czyzewski v. Jevic Holding Corp., 137 S. Ct. 973 (2017), the U.S. Supreme Court held that the Bankruptcy Code does not allow bankruptcy courts to approve distributions to creditors in a "structured dismissal" of a chapter...more

Seward & Kissel LLP

The Spirit is Willing, FTX Out, and Planet Spaceball

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Spirit Airlines continues 'constructive talks' with creditors | Reuters - On Tuesday, ultra-low-cost carrier Spirit Airlines announced it’s in constructive talks with its creditors and will continue to seek strategic...more

Rivkin Radler LLP

Justices’ Ch. 11 Ruling Is A Big Moment For Debtors’ Insurers

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In one of the most publicized terms for the U.S. Supreme Court, one June decision has not received the attention it deserves: Truck Insurance Exchange v. Kaiser Gypsum Company Inc. Truck upends decades of Chapter 11...more

Proskauer Rose LLP

From Opioids to Opt-Outs: Nonconsensual Third-Party Releases and the Aftermath of Purdue

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On June 27, 2024, the U.S. Supreme Court released its 5-4 opinion in connection with the bankruptcy case of Purdue Pharma L.P. (“Purdue”). Over a vigorous dissent authored by Justice Kavanaugh, a narrow majority of the...more

Hinshaw & Culbertson - Insights for Insurers

How the U.S. Supreme Court's Rulings on Kaiser and Purdue Pharma Affect Insurers' Rights and Interests in Chapter 11 Cases

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On June 6, 2024, the United States Supreme Court issued its decision on an insurer’s standing in its policyholders’ Chapter 11 bankruptcy proceeding in Truck Exchange v. Kaiser Gypsum Co., 144 S. Ct. 1414 (2024). The decision...more

Pillsbury Winthrop Shaw Pittman LLP

No Comity Tonight

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U.S. Bankruptcy Court does not enforce an asset freeze order from a Brazilian insolvency proceeding recognized under chapter 15 of the Bankruptcy Code. Recognition of a foreign proceeding under chapter 15 of the Bankruptcy...more

Seward & Kissel LLP

Red River Rivalry, Ethical Lapse, Containment Facility, and Affirmative Consent

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J&J talc opponents decry bankruptcy as "deja vu all over again" | Reuters - Johnson & Johnson's latest bankruptcy attempt faced immediate opposition from cancer victims' attorneys. They argued that the bankruptcy was a...more

Seward & Kissel LLP

Hertz So Good, Drawing Lots, and Sack Lunch

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Hertz Noteholders Land Win in Bankruptcy Interest Payoff Fight | Bloomberg Law - On Tuesday, an appeals court ruled that car rental company the Hertz Corp, which emerged from bankruptcy in 2021, must pay over $270 million...more

Cranfill Sumner LLP

Supreme Court Sends Earthquake Through Bankruptcy Cases, Past, Present, and Future

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The legal wrangling over Purdue Pharma, L.P.’s bankruptcy plan has been splashed over the news. In Purdue Pharma’s case, the reorganization plan called for Purdue Pharma to become a non-profit organization, while the Sackler...more

Fox Rothschild LLP

The Impact of Purdue Pharma

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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

Faegre Drinker Biddle & Reath LLP

Post-Purdue Pharma, Two Bankruptcy Courts Chime In on Preliminary Injunctive Relief for Nondebtors

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For decades, bankruptcy courts have extended the automatic stay through preliminary injunctions halting litigation against a debtor’s nondebtor codefendants. Such relief was relatively routine when the codefendants were the...more

Patterson Belknap Webb & Tyler LLP

Staying Litigation Against Insiders After Harrington v. Purdue Pharma L.P.

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In Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024) (“Purdue”), the Supreme Court held that the Bankruptcy Code does not authorize nonconsensual releases of nondebtors as part of a chapter 11 plan. The Court narrowly...more

Jones Day

U.S. Supreme Court Bankruptcy Update

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The U.S. Supreme Court handed down three bankruptcy rulings to finish the Term ended in July 2024. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance...more

Tyson & Mendes LLP

A Seat at the Table: Supreme Court Rules Insurers Have a Right to Be “Heard on Any Issue” in Chapter 11 Cases

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On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al. The Court held an insurer with financial responsibility for claims in bankruptcy...more

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