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William & Mary
Law Review Online
VOLUME 66 No. 1, 2024
THE SUPREME COURT SACK[LER]S THIRD-PARTY
RELEASES IN CHAPTER 11: SHOULD CONGRESS
SEIZE THE CUDGEL?
LAWRENCE PONOROFF*
TABLE OF CONTENTS
INTRODUCTION ........................................ 3
I.BACKGROUND ........................................ 5
A. Manville and § 524(g) ............................. 5
B. Lead-Up to Purdue Pharma ........................ 8
C. Proceedings Below in Purdue Pharma ................ 9
D. But Wait, There's More! ......................... 13
II. RESPONSE TO PURDUE PHARMA? ....................... 14
A. Do Nothing ................................... 14
B. Expand the Authority of the Bankruptcy Courts
Under 524(g) .................................. 19
III. PROPOSALS TO AMEND THE CODE ...................... 22
IV. OTHER ALTERNATIVES............................... 29
A. Consensual Releases and Full-Pay Plans .............. 29
B. Opt-Out ..................................... 30
* Dean Emeritus and Mitchell Franklin Professor Emeritus, Tulane Law School and
Professor of Legal Practice, Wilmington University School of Law.
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