John Alderton’s Post

#SPBRestructuring offers another insightful blog on the decision made by the US Supreme Court for Harrington v. Purdue Pharma!

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! NOT LEGAL ADVICE #BankruptcyWithBen #PurduePharma #ThirdPartyReleases #BankruptcyLaw #LegalInsights #SBAGKLLP

From Paul Hastings: 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. #scotus #purduepharma #bankruptcycourts #chapter11 #thirdparties

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

Zantac Lawsuit 2024 please like, comment and follow here thank you, GlaxoSmithKline has once again reached a confidential settlement in the Zantac lawsuit in California, specifically the Boyd/Steenvoord case which was scheduled for trial on April 2, 2024. This follows a previous settlement that occurred on February 1st, before the trial date of February 20, 2024. These settlements suggest that the defendants are keen to avoid taking these lawsuits to court. It's important to note that earlier federal rulings regarding Zantac did not influence lawsuits filed in state courts such as California and Delaware among others, due to differing standards for admitting expert witness testimonies. A significant majority of the 80,000 active Zantac cancer lawsuits in the U. S. are consolidated in Delaware, roughly 72,000 cases. After the conclusion of the Daubert hearings on January 24, 2024 we are currently awaiting a judicial decision from Judge Vivian Medinilla of the Delaware Superior Court regarding the experts' qualifications to offer opinions on issues relevant to these cases. Based on insights from experienced Zantac attorneys, it is projected that in the first quarter of 2024, the manufacturer could potentially settle all pending lawsuits against it for an estimated total of $5 billion. #LawyersLiaison #ClientLocatorService #FindClaimantsFast #ClientRetentionSpecialist  #KnowYourClients #IdentifyPersonalityTraits  #BuildTrustNow  

Continuing in our Purdue Pharma series, my latest "Bankruptcy with Ben" episode explains how the Second Circuit decides if a third-party release is appropriate. We focus on the Substantial Contribution factor: What qualifies as a substantial contribution, and why did the Second Circuit deem it so critical?  Watch now to stay informed about key developments in the ongoing Purdue Pharma saga. #BankruptcyWithBen #BankruptcyLaw #ThirdPartyRelease #SecondCircuit #PurduePharma #LegalInsights #CreditorRepresentation #BankruptcyLitigation #LegalEducation NOT LEGAL ADVICE

Thoughts on this? >> Supreme Court narrowly rejects Purdue bankruptcy plan, says it gives Sacklers too much protection >> Comment below! >>> lqventures.com #strategy #competitiveintelligence #marketing #pharma #pharmaceutical #productmarketing #healthcare #biotech

#SCOTUS recently rendered an opinion blocking Purdue Pharma’s $6 billion plan settlement of opioid claims against the Sackler family and holding that the #Bankruptcy Code does not authorize non-consensual third-party releases in #Chapter11 plans. This opinion has massive implications for other recent mass-tort cases that rely upon non-consensual third-party releases to resolve mass tort liabilities. Learn more here: https://ow.ly/Z8CJ50StMT7

#SCOTUS rendered an opinion blocking Purdue Pharma’s $6 billion plan settlement of opioid claims against the Sackler family and holding that the #Bankruptcy Code does not authorize non-consensual third-party releases in #Chapter11 plans. This opinion has massive implications for other recent mass-tort cases that rely on non-consensual third-party releases to resolve mass tort liabilities. Learn more here: https://ow.ly/Rzyg50TyL8z