Last week, the Supreme Court overturned the chapter 11 plan of reorganization of Purdue Pharma and its affiliated debtors, sending stakeholders back to the settlement table after nearly four years in bankruptcy. The Court held that the releases of the Sackler family in the chapter 11 plan were too expansive because they included claims against the Sacklers that belonged to individual creditors who did not consent, not merely claims against the Sacklers that belonged to Purdue Pharma itself. The Court’s decision settles a long-standing dispute among appellate courts and bankruptcy professionals about whether a chapter 11 debtor can force a settlement of claims against a non-debtor that are owned by individual creditors who do not consent. The decision will require chapter 11 debtors and stakeholders to approach the question of non-debtor releases with new dexterity, but ultimately leaves in place the key benefits of chapter 11 as the best available forum to resolve many mass tort and other complex litigation exposures.