Amicus Brief in Support of Appellants: IN RE PURDUE PHARMA, et al.

SUMMARY

The Bankruptcy and Reorganization Committee, represented by pro bono counsel , Cravath, Swaine & Moore LLP, filed an amicus brief in the Purdue Pharma case pending in the United States Court of Appeals for the Second Circuit.  The brief explains the benefits of non-consensual third-party releases in Chapter 11 plans and why such releases are consistent with bankruptcy law and policy, and proposes a standard for the Court to adopt to guide bankruptcy courts (which standard is consistent with the Court’s precedent).