Bankruptcy Law News and Insights

Digital Assets Defined: Writing Digital Assets Into The Bankruptcy Code

Published: Feb 04, 2023
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As discussed in previous installments of this White Paper series, the Lummis-Gillibrand Responsible Financial Innovation Act (the "Bill")1 proposes a comprehensive statutory and regulatory framework in an effort to bring stability to the digital asset market. One area of proposed change relates to how digital assets and digital asset exchanges would...

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Smoked Out: How Those In The Cannabis Industry May Finally Gain Bankruptcy Protection

Published: Feb 02, 2023
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Could bankruptcy protection be on the horizon for individuals and companies actively involved in the cannabis industry? Potentially yes, following President Biden's October 6, 2022 request for the Secretary of Health and Human Services to begin the administrative process to review marijuana's classification as a Schedule I substance under the...

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Non-Consensual Third-Party Releases In Bankruptcy Disallowed

Published: Jan 31, 2023
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In a recent opinion, Honorable Colleen McMahon of U.S. District Court for the Southern District of New York, ruled that non-consensual releases of creditors' direct claims against non-debtors in a Bankruptcy reorganization plan are not allowed under the provisions of the United States Bankruptcy Code. In Re: Purdue Pharma LP. This...

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