SDNY Weighs In On Third-Party Releases In Bankruptcy

Law360, New York (July 28, 2014, 10:56 AM EDT) -- The topic of third-party releases is often controversial, and circuits disagree about the extent to which they are permissible, if at all. In a recent memorandum opinion confirming the Chapter 11 plan of dry bulk shipper Genco Shipping and its debtor affiliates, Judge Sean Lane of the United States Bankruptcy Court for the Southern District of New York in In re Genco Shipping & Trading Limited et. al. waded into the controversy by considering the appropriateness of third-party releases — and nonconsensual ones at that....

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