Second Circuit Approves Third-Party Releases in Purdue Bankruptcy: Client Alert Digest

Summary

This client alert discusses the Second Circuit's decision issued on May 30, 2023, where the court found that the district court erred in vacating the third-party releases contained in the plan filed in the Purdue Pharma L.P.'s (Purdue) bankruptcy case. A brief summary of the facts, holding, and impact of the case are set forth below.