Late yesterday, Judge Colleen McMahon (SDNY), in a 142-page (!) opinion, reversed the plan confirmation order in the Purdue Pharma Chapter 11 appeal on the basis that its non-consensual third-party releases are improper under the Bankruptcy Code.

As quick background, Purdue Pharma manufactures OxyContin. It sought Chapter 11 bankruptcy protection in September 2019 in response


Back in July, we touched on the doctrine of equitable mootness in the context of a bankruptcy settlement agreement. Last week, the Delaware District Court employed equitable mootness in its opinion dismissing a plan confirmation appeal in the Allied Nevada Gold Corp. bankruptcy. Unless an appellant can raise a valid confirmation appeal before substantial consummation