Third Party Releases Chapter 11

Third Party Releases are cropping up in Chapter 11 plans with increasing frequency: what are the standards for their inclusion in a plan? Who is getting released and why? What is the consideration for the Third Party Release? Are creditors who vote for the plan deemed to give a Third Party Release? Scott Wolfson of Wolfson Bolton P LLC in Troy, Michigan, led this discussion on third party releases and focused on the recent Fourth Circuit opinion in National Heritage Foundation v. Highbourne Foundation (2014 U.S. App. LEXIS 12144 (4th Cir. June 27, 2014).