Scholarship (Affiliate)
Purdue Pharma and the New Bankruptcy Exceptionalism
Abstract
This Article explains how the majority opinion in Purdue Pharma creates a new bankruptcy exceptionalism that construes terms like “appropriate,” “necessary, and “fair and equitable” narrowly to cabin judicial authority, seemingly in order to avoid constitutional issues that might otherwise be implicated under a formal approach to Article III. It then considers how this new bankruptcy exceptionalism could be disruptive to bankruptcy practice and examines specific bankruptcy provisions and norms that may be implicated by the decision.
Read the full piece at SSRN.