In Re: Continental Airlines

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that releases of directors and officers were not appropriate in absence of proof of substantial and necessary contribution to the reorganization plan
• recognizing that nondebtor releases have been approved only in “extraordinary cases”
• noting that, in contrast to the circuits holding that non-debtor releases and injunctions are impermissible, some circuits have adopted a “more flexible approach, albeit in the context of extraordinary cases.”
• denying the requested releases but explaining that nondebtor releases are proper in the correct circumstances
• declining to dismiss appeal as equitably moot because the debtor had not preserved the issue, but noting that equitable mootness did not apply
• reversing order confirming plan of reorganization which contained releases of third party actions against directors and officers because record was devoid of evidence to support them

Source: CourtListener parenthetical corpus (CC0).