An interesting and challenging aspect of legal practice is adapting to statutory and decisional law changes.
Court Allows Nonconsensual Releases of Third-Party Claims to Be Included In Settlement Agreement
The bankruptcy bar and courts are attempting to determine the breadth and depth of the Purdue ruling both as to what constitutes consent under a plan of reorganization and whether Purdue applies to other bankruptcy proceedings, including a sale of assets under section 363 of the Bankruptcy Code, free and clear of claims, and approval of settlements. The U.S. Bankruptcy Court for the Eastern District of Virginia recently faced these issues.
By
Andrew C. Kassner and Joseph N. Argentina Jr.
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