What The Nondebtor Release Bill Means For Chapter 11 Filings
By Kurt Mayr, Sabin Willett and David Riley ( August 31, 2021, 5:42 PM EDT) -- Chapter 11 plans of reorganization provide creditors with recoveries — cash or new securities — in exchange for a release and discharge of all claims against the debtor. Many Chapter 11 plans go a step further to release claims against related entities and persons who are not debtors in the case. Members of Congress have recently proposed legislation that could prohibit such nonconsensual third-party releases....
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