James Millar Speaks on Third-Party Releases in Latest Creditor Rights Coalition Contributor Feature

Corporate restructuring team co-leader James Millar authored an article for the Creditors Right Coalition, to which he is a regular contributor, that discusses third-party releases and recent decisions regarding them.

Millar highlights that the recent decisions regarding third-party releases are ultimately likely to be helpful for creditors because, going forward, the review of third-party releases will need to be much more rigorous.

He explained that since plan proponents won’t be able to rely on every objection being overruled, one would expect that they will strive that much harder to reach a consensual resolution with all creditors, which should result in chapter 11 plans that are inherently fairer to all involved, including those that otherwise would have been run over.