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ARTICLE · 29 SEPTEMBER 2021

What We're Reading This Week [September 27, 2021]

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Bloomberg Law discusses pending petitions for certiorari seeking the U.S. Supreme Court's review of lower courts'

United StatesInsolvency/Bankruptcy/Re-Structuring
Joshua R. Gross
Joshua R. Gross
Sean Scott
Sean Scott
Aaron Gavant
Aaron Gavant
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Bloomberg Law discusses pending petitions for certiorari seeking the U.S. Supreme Court's review of lower courts' application of the "equitable mootness" doctrine, which places significant limits on dissenting parties ability to appeal from orders confirming Chapter 11 plans of reorganization. One such petition arises out of the Nuverra Environmental Solutions case, which we previously discussed here. The Bloomberg article, which quotes Mayer Brown Restructuring partner and Real Bankruptcy Intel editor Aaron Gavant, notes that equitable mootness is a judge-made doctrine that, as a practical matter, tends to preclude any meaningful appellate review of an already-confirmed plan. The article also predicts that the doctrine may come into play in the context of the Purdue Pharma reorganization plan in the event that the plan is not stayed pending forthcoming appeals. [Bloomberg Law; September 27, 2021]

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