Corporate Reorganizations
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HARRINGTON, U.S. TRUSTEE V. PURDUE PHARMA, U.S. Sup. Ct. Slip Op. of June 27, 2024
The Court’s Ruling: The catch-all provision Section 1123(b)(6) of the federal Bankruptcy Code (11 U.S.C. § 1123(b)(6)), which allows Bankruptcy Courts to approve “any other appropriate provision” in a corporate reorganization plan for a bankrupt debtor, does not authorize the approval of a plan, and a concomitant judgment, that will relieve non-bankrupt debtors of their… Continue reading
