Electric scooter company Bird Global Inc. said the US Supreme Court’s recent opinion striking down Purdue Pharma’s bankruptcy settlement shouldn’t be used to undermine its own Chapter 11 plan.
Bird’s arguments are the latest example of a nationwide effort by lawyers and courts to determine how the high court’s June ruling in Harringon v. Purdue Pharma applies to current bankruptcies. The Supreme Court ruled in June that liability releases provided in bankruptcy plans to non-bankrupt people and entities without creditor consent are illegal.
Bird’s plan doesn’t include a nonconsensual third-party release, like the one for Purdue’s Sackler family owners, the ...
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