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From Opioids to Opt-Outs: Nonconsensual Third-Party Releases and the Aftermath of Purdue

On June 27, 2024, the U.S. Supreme Court released its 5-4 opinion in connection with the bankruptcy case of Purdue Pharma L.P. (“Purdue”). Over a vigorous dissent authored by Justice Kavanaugh, a narrow majority of the Supreme Court held that the Bankruptcy Code does not permit chapter 11 plans of reorganization to provide for non-consensual releases of non-debtors outside of the asbestos context.

USA, Insolvency & Restructuring, Litigation, Proskauer Rose LLP, Mediation, US Congress, Congress, Supreme Court of the United States, Pharmaceuticals
England and Wales: overview of restructuring mechanisms and recent developments

Matthew Czyzyk, Natalie Blanc, Natalie Raine and Emily Ma, Ropes & Gray

This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

United Kingdom, England & Wales, Compliance Management, Insolvency & Restructuring, Litigation, Global Restructuring Review, Corporate governance, Secured creditor, Liquidator (law), Directors' duties, Company voluntary arrangement, Insolvency, HM Revenue and Customs (UK), Companies Act 2006 (UK), Insolvency Act 1986 (UK), Corporate Insolvency and Governance Act 2020, Directive on Preventive Restructuring Frameworks (2019/1023/EU), Insolvency Regulation (1346/2000) (EU)
Is 2024 finally the year? Key drivers of restructuring and the UK and European commercial real estate market in 2024

Mark Fine, Usman Khan and Sunay Radia, McDermott Will & Emery

This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

European Union, United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Real Estate, Global Restructuring Review, Private equity, Insolvency
Saudi Arabia: Key developments of the Bankruptcy Law and latest trends

Amar Meher, Addleshaw Goddard LLP

This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

This is an Insight article, written by a selected partner as part of GRR's co-published content. Read more on Insight

Saudi Arabia, Insolvency & Restructuring, Global Restructuring Review
Greece: Significant reform to insolvency law

Alexandros Kontogeorgiou and Georgia Papathanasiou, Kontogeorgiou Bakopanou & Associates Law Firm

This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

Greece, Compliance Management, Insolvency & Restructuring, Litigation, Global Restructuring Review, Transfer pricing, Articles of association, Insolvency, European Commission, Bankruptcy Code (2020/4738) (Greece), Directive on Preventive Restructuring Frameworks (2019/1023/EU)
Switzerland: one year after the revision of the Swiss Restructuring Law and potentially viable restructuring approaches from a corporate law perspective

Alexander Vogel and Marc Baumberger, MLL Legal

This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

Switzerland, Company & Commercial, Insolvency & Restructuring, Litigation, Global Restructuring Review
Take the Cash or the Claim?: Intersection of Sections 502(h), 503(b)(9) and 547 of the Bankruptcy Code

You ship goods to a customer that is having financial difficulties. The customer sends you a check for the goods. What do you do?

Cash it and potentially be sued for a preference after the customer files for bankruptcy

or

Don’t cash it, and have a claim in the ensuing bankruptcy

USA, Insolvency & Restructuring, Litigation, Womble Bond Dickinson (US) LLP
Implications of the Rule in Gibbs on the Effectiveness of Schemes of Arrangement to Compromise US Law-governed Debt

Gregg Galardi, Matthew Czyzyk, Natalie Blanc and Emily Ma, Ropes & Gray

This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.

USA, Insolvency & Restructuring, Litigation, Global Restructuring Review, Debt, Scheme of arrangment, Gibbs
Recent Developments in DIP Financing for International and Domestic Debtors

Richard J Cooper, Lisa M Schweitzer and Richard C Minott, Cleary Gottlieb Steen & Hamilton

This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.

USA, Insolvency & Restructuring, Litigation, Global Restructuring Review, Private equity
Dominican Republic: Law 141-15’s Challenges and Application

Fabio Guzmán-Saladín and Pamela Benzán Arbaje, Guzmán Ariza

This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.

Dominican Republic, Compliance Management, Insolvency & Restructuring, Litigation, Global Restructuring Review