Second Circuit Sets Up Seven-Factor Test for Third-Party Releases In Bankruptcy Cases

The Second Circuit had a tough call to make in the Purdue Pharmacy bankruptcy appeal: What to do about the release given to the Sackler families who had agreed to contribute $5.5 to $6 billion to Purdue's reorganization plan but were not themselves in bankruptcy.

8 minute readJuly 01, 2023 at 12:07 AM
By
Alan B. Morrison
Second Circuit Sets Up Seven-Factor Test for Third-Party Releases In Bankruptcy Cases

The Second Circuit had a tough call to make in the Purdue Pharmacy bankruptcy appeal: What to do about the release given to the Sackler families who had agreed to

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