“SCOTUS Rejects Proposed Release of Sackler Family From Purdue Pharma Chapter 11 Plan as Not Permitted by the Bankruptcy Code”—Learn more in this Restructuring, Bankruptcy & Creditors’ Rights Practice Area alert authored by Ilan Markus, partner. Click here to read the alert: https://lnkd.in/gqTJkeYy #Alert #SCOTUS #PurduePharma #Chapter11Bankruptcy #BankruptcyCode
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Head of Bankruptcy and Restructuring Practice Group at Shiryak, Bowman, Anderson, Gill and Kadochnikov LLP
In our latest in Bankruptcy with Ben, we continue in the Purdue Pharma saga. In this episode we explore Factor 5: Substantial Contribution. See how the Second Circuit evaluated the Sackler's substantial financial contribution to the Purdue Pharma Plan to secure their highly contested third-party release. Understand this key criteria to follow how the Second Circuit arrived at its decision. #BankruptcyWithBen #ThirdPartyReleases #BankruptcyLaw #SubstantialContribution #LegalInsights #BankruptcyCourt #FinancialStrategy #SBAGKLLP
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Head of Bankruptcy and Restructuring Practice Group at Shiryak, Bowman, Anderson, Gill and Kadochnikov LLP
In our latest Bankruptcy with Ben installment, I unpack the Second Circuit's concurrence in Purdue Pharma. This key moment in bankruptcy jurisprudence offered crucial perspectives on third-party releases. If you're navigating the bankruptcy world, this insight is essential! #BankruptcyWithBen #PurduePharma #BankruptcyLaw #ThirdPartyReleases
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Head of Bankruptcy and Restructuring Practice Group at Shiryak, Bowman, Anderson, Gill and Kadochnikov LLP
In our latest Bankruptcy with Ben episode, we explore the Second Circuit's pivotal analysis of third party releases in Purdue Pharma. Understand when the third-party releases are deemed appropriate as we lay the foundation for the ultimate Supreme Court' ruling on the appropriateness of third part release. Don't miss this crucial analysis! #BankruptcyWithBen #PurduePharma #ThirdPartyReleases #BankruptcyLaw #LegalInsights #SBAGKLLP
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Next month the U.S. Securities and Exchange Commission will try a novel case that tests the limits of insider-trading law. Former Medivation exec Matt Panuwat is accused of using what he knew about his own company to make a profitable bet on another drugmaker's stock. The SEC doesn't allege Panuwat had material nonpublic information about the other drugmaker. But it says he misused what he knew about Medivation to trade options on the shares of Incyte, another oncology-focused company. Commentators are calling this "shadow trading," which has been the focus of some academic research and some very good reporting by ProPublica. If the SEC wins, will this open a new avenue for insider-trading cases? Would the U.S. Department of Justice charge these criminally if the SEC's theory pans out in its civil case? #securitieslaw #trading #financialregulation https://lnkd.in/gZvwAeKR
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In a landmark decision that will significantly impact future reorganization plans, the Supreme Court categorically held in Harrington v. Purdue Pharma L.P., that bankruptcy courts lack the authority to approve nonconsensual third party releases as part of chapter 11 plans. This decision, one of the most consequential for bankruptcy practitioners in recent memory, will force an immediate shift in the manner in which direct third party claims are addressed and protected in bankruptcy going forward. Read our full alert to understand the practical implications of this pivotal ruling. Kris Hansen Ken Pasquale Daniel Fliman Ryan Montefusco Isaac Sasson Leonie C. Koch #PurduePharma #Bankruptcy
The Purdue Decision on Third Party Releases and Its Practical Implications | Paul Hastings LLP
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BCBN Feed: STAT+: Pharmalittle: We’re reading about the Purdue bankruptcy ruling, a Merck rejection, and more https://lnkd.in/gpeUD4wc In today's Pharmalittle roundup, we're reading about the Purdue bankruptcy ruling, a Merck rejection, and more. ... [...]
STAT+: Pharmalittle: We’re reading about the Purdue bankruptcy ruling, a Merck rejection, and more
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Purdue Pharma: Paul Hastings Analysis The SC ruled 5-4 that bankruptcy courts cannot release claims against nondebtors without the consent of affected claimants. Implications: ⦿ Pre-arranged and pre-packaged bankruptcies will face challenges in maintaining confidentiality and speed. ⦿ Increased litigation and solicitation efforts may disrupt businesses and extend bankruptcy cases. ⦿ Sponsors and third parties might reduce contributions to bankruptcy plans, affecting estate recoveries. For a deeper dive into the ruling and its broader implications, read the full article here below. #SupremeCourt #Bankruptcy #PurduePharma #LegalUpdate #CorporateLaw
In a landmark decision that will significantly impact future reorganization plans, the Supreme Court categorically held in Harrington v. Purdue Pharma L.P., that bankruptcy courts lack the authority to approve nonconsensual third party releases as part of chapter 11 plans. This decision, one of the most consequential for bankruptcy practitioners in recent memory, will force an immediate shift in the manner in which direct third party claims are addressed and protected in bankruptcy going forward. Read our full alert to understand the practical implications of this pivotal ruling. Kris Hansen Ken Pasquale Daniel Fliman Ryan Montefusco Isaac Sasson Leonie C. Koch #PurduePharma #Bankruptcy
The Purdue Decision on Third Party Releases and Its Practical Implications | Paul Hastings LLP
paulhastings.com
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Mass Tort & Product Liability Lawyer | Fighting for Justice for Victims of Dangerous Drugs and Defective Products
Will Bayer file for Bankruptcy to end the Roundup Mass Tort? Reports in Bloomberg indicate that Bayer has taken steps and is considering utilizing the "Texas Two-Step" bankruptcy maneuver to resolve the remaining Roundup litigation. Despite similar bankruptcy filings by 3M in the earplug Mass Tort and J&J in the Baby Powder Mass Tort being rejected, I am not surprised by this report. In fact, I predicted after the string of large verdicts that Bayer would do exactly this. We will see what happens next, but I am certain Bayer is watching carefully what J&J does next. If J&J files for an loses a third bankruptcy, then it is clear Bayer has no chance at success. If not, all options remain on the table. Stay tuned. #joedoeslaw #masstorts #roundup
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#SPBRestructuring offers another insightful blog on the decision made by the US Supreme Court for Harrington v. Purdue Pharma!
Squire Patton Boggs on LinkedIn: #spbrestructuring #bankruptcy #purduepharma #teamspb
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#SPBRestructuring offers another insightful blog on the decision made by the US Supreme Court for Harrington v. Purdue Pharma!
Squire Patton Boggs on LinkedIn: #spbrestructuring #bankruptcy #purduepharma #teamspb
spbshare.com
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