WebAug 8, 2024 · The proposed release turns on a feature of US bankruptcy law that can protect third parties from lawsuits ... to curb non-debtor releases, citing Purdue Pharma and bankruptcies such as the ... WebNov 17, 2024 · Over the past several years, third-party releases in plans have become a more common tool used by businesses in chapter 11. Recently, however, non-consensual third-party releases have come under more scrutiny, especially in bankruptcy cases filed by debtors to stay litigation filed by tort claimants. The Boy Scouts of America (BSA) filed for ...
Justice Department Blasts Purdue Pharma
WebFeb 3, 2024 · These third-party releases had the effect of binding not only tort claimants in the U.S., but also tort claimants beyond borders, including Canadian claims. Purdue … WebApr 2, 2024 · Purdue Pharma LP filed for bankruptcy in September 2024, but none of the members of the Sackler family have filed for bankruptcy as individuals. Nevertheless, the Sacklers have offered to contribute roughly $4.28 billion as part of a proposed bankruptcy plan to fund payouts to victims who suffered injuries linked to Purdue Pharma’s opioids ... emachine goggles f1-050
S.D.N.Y. Judge Issues Disruptive Decision on Third-Party Releases …
WebAttorneys for Purdue Pharma LP defended the company's Chapter 11 plan Friday to the Second Circuit, arguing that more than three decades of case law in the circuit permits the releases in the plan ... WebJan 31, 2024 · In a December 16, 2024, decision, 1 Judge Colleen McMahon of the US District Court for the Southern District of New York reversed the bankruptcy court order … WebDec 29, 2024 · The District Court found that section 1129(a)(1) confers no substantive rights of its own. Therefore, section 1129(a)(1), either alone or in combination with section … ford motor company get holiday ready