KarenLou

Recent filings suggest that companies are leveraging recognition proceedings under Chapter 15 of the U.S. Bankruptcy Code to obtain relief they couldn’t achieve under foreign or U.S. bankruptcy law alone. Noteworthy decisions highlight a judicial openness—grounded in comity—to recognize foreign proceedings in the U.S. that include third-party releases. Japanese companies eyeing this path should weigh the potential benefits against the risks of perceived abuse.

In an article for The Review of Banking & Financial Services, Partners Doug Spelfogel and Derek Wright and Associate Karen Lou discuss the rise in companies seeking to use creative tools to implement third-party releases through Chapters 15 recognition proceedings. The authors analyze Harrington v. Purdue Pharma L.P., and recent bankruptcy court decisions.

In a significant victory for pharmaceutical competition and access to generic drugs, Jenner & Block secured a key litigation win on behalf of client MSN Pharmaceuticals. A federal judge denied a pharmaceutical company’s request for injunctive relief, removing an obstacle to MSN’s planned launch of a generic version of Entresto, a widely used heart failure medication.

Both Congress and the White House have sought to introduce new financial restrictions for institutions of higher education, building on efforts made during President Trump’s first term. These proposed restrictions include limits on foreign donations to institutions, changes to the reporting process for such donations, and increases to the endowment tax. Since President Trump’s inauguration, congressional Republicans have advanced several legislative proposals, varying in scope and structure. In