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On June 27, 2024, the U.S. Supreme Court released its highly anticipated opinion in Harrington v. Purdue Pharma L.P., Case No. 23-124 (“ Purdue”). The question before the Court was whether the bankruptcy code lets a court approve, as part of a chapter 11 plan, a release that extinguishes claims held...

Setting Expectations for Founders. Setting and agreeing upon founder roles, responsibilities, contributions and ownership are not legal issues, but have an enormous impact on the company and legal matters going forward. Once set, these expectations become the blueprint for operating your company...

The Third Circuit has a reputation as being a “plain meaning” court—meaning that it strictly construes and applies the words of a statute. Its January 19, 2024, opinion in In re FTX Trading Ltd., No. 23-2297 (3rd Cir. Jan. 19, 2024) (“ FTX”) is an example. The relevant facts in the “highly complex”...

A previous article discussed the rising prevalence of mediation in large chapter 11 bankruptcies, especially its use in previously rare scenarios such as plan confirmation. Part II considers a more traditional mediation topic: adversary proceedings.

Summary/Description: The story of United States v. Rocket Learning, LLC