This chapter discusses the current state of third-party releases in bankruptcy, focusing on recent decisions in the Purdue Pharma case and other Texas bankruptcies. It explores the controversies surrounding the inclusion of third-party releases in bankruptcy plans, particularly in relation to the Sackler family. The chapter also delves into the legal arguments and constitutional jurisdiction surrounding non-consensual third-party releases.
Featuring: Peloton, AMC, Mallinckrodt and Surprise Medical Billing legislation.
For this week’s Deep Dive, Reorg’s Mike Legge, Karen Leung and David Mayo join us to discuss the current state of play of third-party releases in bankruptcy, reviewing recent decisions in Purdue Pharma, Ascena Retail and Mallinckrodt, as well as reviewing the ongoing case of LTL Management and other “Texas two-step” bankruptcies.
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