Coral Gables, FL – Continental PLLC partner Angelo M. Castaldi authored an article in the Daily Business Review on the Supreme Court Justice’s rejection of the Purdue Pharma nonconsensual third-party releases settlement. “Nothing in the Bankruptcy Code authorized the nonconsensual release or discharge of claims of opioid victims against the Sacklers, who were not debtors themselves,” Angelo explained.
What is clear from the court’s decision is that the practice of allowing bankruptcy courts to exercise their discretion to approve third-party releases in a reasonable manner may be over. Undoubtedly, bankruptcy practitioners will continue to test the limitations of Purdue when seeking nonconsensual injunctive relief as a tool to achieve global resolutions of multi-party litigation disputes in the bankruptcy courts.
Angelo represents clients in a broad range of complex business litigation, bankruptcy litigation, and financial restructuring matters. Those clients have included fiduciaries, creditor committees, companies, and individuals across a variety of industries and disputes in state, federal district, and bankruptcy courts.
Read the full article here.
About Continental PLLC
Continental PLLC is a law firm that excels at navigating clients through complex legal, political, and business environments in Florida, Washington D.C., and throughout Latin America and the Caribbean. The firm has offices in Miami, Tallahassee, Washington D.C., and Buenos Aires (satellite office).
