Our articles are written by experts in their field and include individual barristers, solicitors, academics, judges, and leading firms in relevant areas of practice. JIBFL offers authoritative insights into global banking and financial law, providing essential updates for legal practitioners and policymakers. Covering key topics like lending, security interests, derivatives, debt capital markets, banking and finance related disputes, crypto, FinTech and financial regulation, JIBFL serves as a trusted resource for navigating complex legal challenges and staying informed in the financial sector. If you would like to contribute, please email Amanda.Cohen2@lexisnexis.com.
Third-party releases and cross-border restructurings: enforceability of UK-issued nonconsensual third-party releases in the United States
© Copyright LexisNexis 2025. All rights reserved.
The UK and US implemented cross-border structuring procedures to facilitate among other things international comity and the effective structuring and reorganisation of distressed entities with international operations. A key component of any such international structuring is recognition of the actions undertaken in the applicable jurisdiction (eg the UK) in other relevant jurisdictions (eg the US). Nonconsensual third-party releases are an important tool in a practitioners' toolbox to facilitate an effective restructuring. Recently case law in the US both:
(i) invalidated nonconsensual releases in the context of Ch 11 proceedings in the US; and
(ii) upheld the continued legality of nonconsensual third-party releases in cross-border matters under Ch 15 of the US Bankruptcy Code (which chapter governs US recognition of non-US restructuring proceedings).
In light of those developments this In Practice article provides an overview of fundamental concepts underlying nonconsensual third-party releases and explores their continued utility as...
If you are already a User, sign in
Or you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Alternatively you can subscribe here to read unlimited content.
