Jones Featured in Law360 article Ch. 15 Rulings Boost Possibility of Purdue Workarounds

Stradling partner Greg Jones was quoted in the Law360 article "Ch. 15 Rulings Boost Possibility of Purdue Workarounds" written by Alex Wittenberg.

The article focused on recent Chapter 15 bankruptcy court decisions and how they have opened potential workarounds for debtors seeking to evade the U.S. Supreme Court's Purdue Pharma ruling, which barred nonconsensual third-party releases in non-asbestos Chapter 11 plans. Jones commented that "It's not extraordinary relief to grant nonconsensual releases because Congress already said you could do them in asbestos cases,” highlighting the existing precedent for nonconsensual releases in specific contexts, such as asbestos cases, which may inform the approval of similar releases in Chapter 15 proceedings.  This development may contribute to a growing divide between the relief available in foreign restructurings and Chapter 11, potentially leading U.S. companies to explore foreign courts and Chapter 15 for insolvency protections.