A “third-party release” in bankruptcy refers to a release that is given to a non-debtor party by other non-debtors – like creditors. Third-party release issues typically arise in the context of chapter 11 plan negotiations (which is essentially a contract between a debtor and its creditor constituents setting out the treatment of a
SDNY Bankruptcy Court Publishes Proposed Amendments to Local Rules
Last month, the United States Bankruptcy Court for the Southern District of New York published proposed amendments to its local rules effective December 1, 2016 (the “Proposed Amendments”). Links to the Bankruptcy Court’s notice to the bar with respect to the Proposed Amendments and the full text of the Proposed Amendments are provided below. The…