Consensual Third-Party Releases in Chapter 11 Plans: Authority, Structure, Consent Mechanisms, Court's Gatekeeper Role
Initial Reaction and Commentary to Purdue Pharma decision
A live 90-minute CLE video webinar with interactive Q&A
This CLE webinar will review consensual third-party (non-debtor) releases in Chapter 11 plans of reorganization. The program will focus on when consensual third-party releases may be permissible; factors courts consider in deciding whether they are allowable; what constitutes consent; the permissible scope of consensual releases; what claims or conduct cannot be released; and how to structure, obtain approval for (or object to), and administer consensual releases. The panel will also discuss the bankruptcy court's "gatekeeping" role as a factor in the debate.
Outline
- Review of circuit split over Section 524(e)
- Factors courts consider in deciding whether to permit releases
- Structure and scope of permissible releases
- Consequences when releases are not consented to
- Strategies for release for proponents and objectors
Benefits
The panel will discuss these and other key issues:
- What parties typically seek and are granted releases?
- Does consent resolve the Section 524(e) debate?
- Does a third-party release leave a creditor unimpaired?
- How should consents be structured: opt-out, opt-in?
- What is the effect of not granting a release?
Faculty
Van C. Durrer, II
Partner
Skadden Arps Slate Meagher & Flom
Mr. Durrer leads the Firm's corporate restructuring practice in the western United States and advises clients... | Read More
Mr. Durrer leads the Firm's corporate restructuring practice in the western United States and advises clients in restructuring matters around the Pacific Rim. He regularly represents public and private companies, major secured creditors, official and unofficial committees of unsecured creditors, investors and asset-purchasers in troubled company M&A, financings and restructuring transactions, including out-of-court workouts and formal insolvency proceedings. He moderated panels and participated as a guest speaker for many organizations globally.
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Tyler R. Ferguson
Partner
Mayer Brown
Mr. Ferguson is a partner in the Chicago office of Mayer Brown and is a member of the firm’s Restructuring... | Read More
Mr. Ferguson is a partner in the Chicago office of Mayer Brown and is a member of the firm’s Restructuring practice. He has substantial experience in complex insolvency matters, including out-of-court restructurings and recapitalizations, bankruptcy proceedings, insurance company receiverships, and default-related litigation. Mr. Ferguson typically represents companies, investors, administrative agents, trustees and other stakeholders in a wide range of distressed scenarios involving a variety of industries, including real estate, energy, technology, food and beverage, transportation, manufacturing, aviation, hospitality, and mining.
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Lydia R. Webb
Partner
Gray Reed & McGraw
Ms. Webb focuses her practice on representing and advising debtors, creditors, committees and post-confirmation... | Read More
Ms. Webb focuses her practice on representing and advising debtors, creditors, committees and post-confirmation trustees in bankruptcy cases and other insolvency or restructuring scenarios. She has guided clients to successful results in complex cases before courts throughout Texas and many other states, including Oklahoma, Delaware and New York. With cases spanning various industries--oil and gas, healthcare, retail, manufacturing, restaurants--Ms. Webb focuses on gaining a strong grasp of the industry-specific regulations and issues that will have a big impact on the outcome of the bankruptcy.
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