Analysis

3rd-Party Releases Face Reckoning After Recent Decisions

By Vince Sullivan (January 21, 2022, 5:57 PM EST) -- For the second time in two months, a federal district court judge has attacked nonconsensual third-party releases in a large debtor's Chapter 11 plan, again bringing issues concerning this restructuring tool to the forefront in a landscape that is becoming increasingly hostile to the releases.

U.S. District Court Judge David J. Novak in the Eastern District of Virginia on Jan. 13 remanded the Chapter 11 case of Ascena Retail Group Inc., the former owner of Ann Taylor and other fashion brands. The decision was the latest to question the propriety of releasing third-party claims against nondebtors in a move that bankruptcy...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related Sections

Law Firms

Companies

Judge Analytics

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!