U.S. Supreme Court building in Washington, D.C. Rejection of Purdue Pharma Bankruptcy Deal Could Tee Up SCOTUS Review of Liability Releases
"The decision may embolden other judges who have had concerns about non-debtor releases but are typically told, playground style, 'but everyone is doing it,'" said law professor Melissa Jacoby.
December 17, 2021 at 08:49 PM
5 minute read
Bankruptcy
A ruling tossing OxyContin maker Purdue Pharma's bankruptcy settlement could tee up a new issue for the U.S. Supreme Court and spur other judges to more closely scrutinize non-debtor releases, a controversial mechanism that shields third parties in Chapter 11 proceedings from liability.
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