Opting Out of the Opt Out: SDNY Rejects Opt-Out Releases in Chapter 11 Plan

Before the US Supreme Court’s landmark decision in Purdue Pharma,1 it had become common practice for Chapter 11 debtors to include a consensual or nonconsensual non-debtor third-party release in their plans of reorganization.

Filed under:
USA, Insolvency & Restructuring, Litigation, Cooley LLP, GOL, Purdue Pharma, Supreme Court of the United States
Authors:
Daniel Shamah , Dale Davis
Location:
USA
Firm:
Cooley LLP