In re Purdue Pharma L.P.: Second Circuit Reverses S.D.N.Y and Holds Bankruptcy Court Has Subject Matter Jurisdiction and Statutory Authority to Approve Sackler Family Releases

On May 30, 2023, the United States Court of Appeals for the Second Circuit (the “Second Circuit” or the “Court”) rendered a much anticipated opinion (the “Opinion”),1 reversing the order of the United States District Court for the Southern District of New York (the “District Court”) that the Bankruptcy Code does not permit non-consensual third-party releases of direct claims and affirming the order of the United States Bankruptcy Court for the Southern District of New York (the

Filed under:
USA, Company & Commercial, Insolvency & Restructuring, Litigation, Vinson & Elkins LLP, Supreme Court of the United States, Second Circuit, United States bankruptcy court, US District Court for the Southern District of New York
Authors:
Katherine Drell Grissel , Kristie Torkildsen Duchesne , David S. Meyer , Steven M. Abramowitz , Bradley Foxman , Paul E. Heath , George R. Howard , Lauren R. Kanzer , Jessica C. Peet , William L. Wallander , Steven Zundell
Location:
USA
Firm:
Vinson & Elkins LLP
In re Boy Scouts of America and Delaware BSA, LLC: Delaware District Court Affirms Bankruptcy Court’s Approval of Third-Party Releases, in Conflict with Southern District of New York District Court in Purdue

On March 28, 2023, the United States District Court for the District of Delaware (the “District Court”) rendered an opinion (the “Opinion”)1 affirming the confirmation order of Laurie S.

Filed under:
USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, Vinson & Elkins LLP, United States bankruptcy court, US District Court for District of Delaware
Authors:
David S. Meyer , William L. Wallander , Steven M. Abramowitz , Paul E. Heath , George R. Howard , Lauren R. Kanzer , Jessica C. Peet , Bradley Foxman , Katherine Drell Grissel , Kristie Torkildsen Duchesne
Location:
USA
Firm:
Vinson & Elkins LLP
Another Delaware Bankruptcy Court Approves Third-Party Releases and Opt-Out Mechanisms Amidst Disagreements with Other Circuits

On July 29, 2022, Laurie S.

Filed under:
USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, Vinson & Elkins LLP, Bankruptcy, United States bankruptcy court, Third Circuit, US District Court for the Southern District of New York
Authors:
Steven M. Abramowitz , Kristie Torkildsen Duchesne , Bradley Foxman , Katherine Drell Grissel , Paul E. Heath , George R. Howard , Lauren R. Kanzer , David S. Meyer , Jessica C. Peet , William L. Wallander
Location:
USA
Firm:
Vinson & Elkins LLP
In re Purdue Pharma L.P.: Second Circuit Reverses S.D.N.Y and Holds Bankruptcy Court Has Subject Matter Jurisdiction and Statutory Authority to Approve Sackler Family Releases

On May 30, 2023, the United States Court of Appeals for the Second Circuit (the “Second Circuit” or the “Court”) rendered a much anticipated opinion (the “Opinion”),1 reversing the order of the United States District Court for the Southern District of New York (the “District Court”) that the Bankruptcy Code does not permit non-consensual third-party releases of direct claims and affirming the order of the United States Bankruptcy Court for the Southern District of New York (the

Filed under:
USA, Company & Commercial, Insolvency & Restructuring, Litigation, Vinson & Elkins LLP, Supreme Court of the United States, Second Circuit, United States bankruptcy court
Authors:
Katherine Drell Grissel , Kristie Torkildsen Duchesne , David S. Meyer , Steven M. Abramowitz , Bradley Foxman , Paul E. Heath , George R. Howard , Lauren R. Kanzer , Jessica C. Peet , William L. Wallander
Location:
USA
Firm:
Vinson & Elkins LLP
In re Boy Scouts of America and Delaware BSA, LLC: Delaware District Court Affirms Bankruptcy Court’s Approval of Third-Party Releases, in Conflict with Southern District of New York District Court in Purdue

On March 28, 2023, the United States District Court for the District of Delaware (the “District Court”) rendered an opinion (the “Opinion”)1 affirming the confirmation order of Laurie S.

Filed under:
USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, Vinson & Elkins LLP, United States bankruptcy court, US District Court for District of Delaware
Authors:
David S. Meyer , William L. Wallander , Steven M. Abramowitz , Paul E. Heath , George R. Howard , Lauren R. Kanzer , Jessica C. Peet , Bradley Foxman , Katherine Drell Grissel , Kristie Torkildsen Duchesne
Location:
USA
Firm:
Vinson & Elkins LLP