Delaware District Court Could Guide Supreme Court Purdue Pharma Decision

A bankruptcy court properly held that derivative claims based on "piercing the corporate veil theory of liability [were] released under" a confirmed reorganization plan, but that direct "claims for negligent undertaking" were not released and "could be asserted" in state court against the debtors' equity sponsors.

10 minute readMay 01, 2024 at 12:13 AM
By
Michael L. Cook
Delaware District Court Could Guide Supreme Court Purdue Pharma Decision

A bankruptcy court properly held that derivative claims based on "piercing the corporate veil theory of liability [were] released under" a confirmed reorganization plan, but that direct "claims for negligent

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