Introduction
Non-consensual third-party releases are provisions in reorganization plans that release non-debtor parties from liability to other non-debtor parties without the consent of all potential claimholders. These releases are frequently included in chapter 11 plans of reorganization. Most circuit courts allow these releases under certain circumstances; however, there is a split among circuit courts as to whether such non-consensual third-party releases are permitted by the Bankruptcy Code.
USA, Insolvency & Restructuring, Litigation, A&O Shearman, Bankruptcy, Second Circuit, US District Court for the Southern District of New York, U.S. Court of Appeals
Introduction
Private wealth structures are not immune from insolvency. Here we examine the Jersey and Guernsey position from the trustee's perspective and consider the issues with which a trustee needs to be familiar.
Test for insolvency