Psst, Need a Non-Consensual Third Party Release After the Supreme Court’s Purdue Decision?: Consider a Non-U.S. Proceeding Plus Chapter 15 Recognition

In the most significant decision of the decade on a matter of U.S. bankruptcy law, the U.S. Supreme Court rendered its highly anticipated decision in Harrington v. Purdue Pharma L.P., 603 U.S. ____ (2024) on June 27, 2024, striking down the non-consensual third party releases that were the cornerstone of Purdue Pharma's Chapter 11 Plan of Reorganization by a vote of 5-4. In doing so, the Court said:

Filed under:
USA, Insolvency & Restructuring, Litigation, Freshfields Bruckhaus Deringer, Supreme Court of the United States
Authors:
Madlyn Gleich Primoff , Michael Broeders , Craig Montgomery , Ken Baird , Crystal Kong
Location:
USA
Firm:
Freshfields Bruckhaus Deringer