In an anticipated decision, on May 30, 2023, the Second Circuit Court of Appeals issued its decision approving a Chapter 11 plan’s inclusion of a nonconsensual release of direct claims against non-debtor third parties.
Continue Reading Second Circuit Approves Nonconsensual Third-Party Release in Purdue Pharma Case: Where Do Third Party Releases Stand Now?
Third Circuit Dismisses Talc Bankruptcy
On Monday, January 30, 2023, the Third Circuit in In re LTL Management, LLC ordered debtor LTL Management, LLC’s chapter 11 petition dismissed for failure to demonstrate that the petition was filed in good faith pursuant to the Bankruptcy Code.
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Inflation + Customer/Vendor Contracts = Bankruptcy?
Over the last two years, courtesy of a once-a-century pandemic, government-mandated business closures, nationwide stay-at-home orders, and—unprecedented—disruptions to the global supply chain have illuminated, previously unknown, vulnerabilities across a whole host of industries. Would anyone have seriously questioned the viability of office space two years ago? Now, inflation, in keeping with the recent chaos, may be upending the viability of another tried-and-tested institution: the supply contract.
Continue Reading Inflation + Customer/Vendor Contracts = Bankruptcy?