In the Aftermath of the Supreme Court’s Ruling in Purdue Pharma, Bankruptcy Courts Scramble to Define Consent

Shirley Cho and Caledonia Strelow, one of the firm’s 2024 summer associates, wrote an article for the student newsletter of the International Association of Restructuring, Insolvency & Bankruptcy Professionals (INSOL) on how bankruptcy courts and practitioners are struggling with the aftermath of Harrington v. Purdue Pharma. Last spring, the Supreme Court ruled that the Bankruptcy Code bars any release or injunction attempting to discharge claims against a nondebtor absent consent of affected claimants as part of a chapter 11 plan of reorganization. The article discusses how recent cases have approached determining what “consent” means in confirming plans containing releases of third-party nondebtors.

Their article is available here: https://tinyurl.com/mwyyakxx