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.

Introduction

In May 2020 three years have passed[1] since Ukraine received the last funding of nearly USD 1 billion from the International Monetary Fund (the “IMF”). The funding that the IMF allocated to Ukraine was nearly four times larger than previous funding.