[Editor's Note: The Supreme Court's decision in the Purdue Pharma bankruptcy case was released just as this issue of The Bankruptcy Strategist was going to press, so we present this analysis from our ALM sibling Daily Business Report.
Supreme Court's Rejection of Purdue Pharma Settlement Redefines Releases In Chapter 11
The U.S. Supreme Court has issued its most anticipated bankruptcy decision in recent memory. In a 5-4 decision entered June 27, the Supreme Court struck down the nonconsensual third-party releases. Writing for the Court, Justice Neil Gorsuch ruled that nothing in the Bankruptcy Code authorized the nonconsensual release or discharge of claims of opioid victims against the Sacklers, who were not debtors themselves.
By
Angelo Castaldi
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