Alerts7.17.24
Restructuring and Bankruptcy Developments: The Supreme Court’s 2023-24 Term
Highlights
Long-anticipated U.S. Supreme Court decision in Purdue Pharma shakes up the scope of bankruptcy releases
Insurers get increased ability to participate in bankruptcy cases
Overpayment of bankruptcy fees is not refundable to Chapter 11 debtors
The U.S. Supreme Court’s recently concluded 2023-2024 term included three decisions interpreting various aspects of the U.S. Bankruptcy Code, including the much-anticipated decision in Harrington v. Purdue Pharma, L.P., which is likely to shape the scope of Chapter 11 plans of reorganization significantly. A summary of each of these decisions, and their likely effect going forward, is below.
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