Kerr Russell member Jason Bank (bankruptcy/turnaround) has been published in the September issue of The American Bankruptcy Institute Journal.
Excerpt from the piece: “To release or not to release? This should be the question that creditors ask when reviewing chapter 11 plans. Increasingly, chapter 11 plans are including broad third-party release provisions that might be binding on creditors who take no action with respect to a plan, or fail to ‘opt out’ of a release, thereby dramatically impacting that substantive rights of those creditors in the future. However, creditors often gloss over or simply ignore plan releases, especially when they receive significant payments. This article discusses the potential pitfalls that lurk in broad, chapter 11 plan releases and contains a nuts-and-bolts primer on how to analyze the scope, breadth, and impact of releases.”