Bar Orders Clause Samples
A Bar Order is a legal provision that prohibits certain parties from bringing future claims related to a specific matter, typically in the context of settlements or bankruptcy proceedings. In practice, a Bar Order may prevent creditors, shareholders, or other stakeholders from pursuing additional lawsuits against parties who have contributed to a settlement fund or are otherwise involved in the resolution of a dispute. This clause is essential for providing finality and certainty to settlements by ensuring that once a matter is resolved, no further related claims can be brought, thereby protecting settling parties from ongoing litigation risk.
Bar Orders. The Partial Final Judgment shall contain provisions substantially conforming to the following
(a) In accordance with Section 21D-4(f)(7)(A) of the Private Securities Litigation Reform Act of 1995, 15 U.S.C. § 78u-4(f)(7)(A), each of the Released Persons are discharged from all claims for contribution that have been or may hereafter be brought by or on behalf of any of the Non-Settling Defendants or any of the Settling Defendants based upon, relating to, or arising out of the Released Claims. Accordingly, (i) the Non-Settling Defendants are permanently barred, enjoined, and restrained from commencing, prosecuting, or asserting any such claim for contribution against any Released Person based upon, relating to, or arising out of the Released Claims; and (ii) the Released Persons are permanently barred, enjoined, and restrained from commencing, prosecuting, or asserting any claim for contribution against the Non-Settling Defendants based upon, relating to, or arising out of the Released Claims (“Reform Act Bar Order”).
(b) The Non-Settling Defendants and the Settling Defendants are permanently barred, enjoined, and restrained from commencing, prosecuting or asserting any claim, if any, however styled, whether for indemnification, contribution, or otherwise and whether arising under state, federal, or common law, against the Released Persons based upon, arising out of, or relating to the Released Claims; and the Released Persons are permanently barred, enjoined, and restrained from commencing, prosecuting, or asserting any other claim, if any, however styled, whether for indemnification, contribution, or otherwise and whether arising under state, federal, or common law, against the Non-Settling Defendants based upon, arising out of, or relating to the Released Claims (the “Complete Bar Order”).
(c) If the Partial Final Judgment fails to include the Reform Act Bar Order or the Complete Bar Order (collectively “Bar Orders”), or if appellate review of the Bar Orders is sought and on such review the Bar Orders are vacated, modified or reversed, then the Settling Defendants shall have the right to terminate the Settlement.
(d) Notwithstanding the foregoing provisions, nothing in the Partial Final Judgment will bar the Non-Settling Defendants from pursuing claims that are independent of the Released Claims against the Released Persons.
Bar Orders. (1) Class Counsel shall obtain a bar order from the Court providing for the following:
(a) to the extent such claims are recognized at law all claims for contribution, indemnity or other claims over, whether asserted, unasserted or asserted in a representative capacity, inclusive of interest, taxes and costs, relating to the Released Claims, which were or could have been brought in the BC Action or any Other Actions, or otherwise, by any Non-Settling Defendant, any named or unnamed co-conspirator that is not a Releasee, any Settled Defendant or any other Person or party against a Releasee, or by a Releasee against any Non-Settling Defendant, any named or unnamed co-conspirator that is not a Releasee, any Settled Defendant, or any other Person or party, are barred, prohibited and enjoined;
(b) if the Court ultimately determines that a claim for contribution and indemnity or other claim over, whether in equity or in law, by statute or otherwise, is a legally recognized claim:
i) the Plaintiff and Settlement Class Members shall not be entitled to claim or recover from the Non-Settling Defendants, named or unnamed co-conspirators and/or any other Person or party that is not a Releasee, that portion of any damages (including punitive damages, if any), restitutionary award, disgorgement of profits, interest and costs (including investigative costs claimed pursuant to section 36 of the Competition Act) that corresponds to the Proportionate Liability of the Releasees proven at trial or otherwise;
ii) the Plaintiff and Settlement Class Members shall limit their claims against the Non-Settling Defendants and/or named or unnamed co- conspirators and/or any other Person or party that is not a Releasee to include only, and shall only seek to recover from the Non- Settling Defendants and/or named or unnamed co-conspirators and/or any other Person or party that is not a Releasee, those claims for damages (including punitive damages, if any), restitution, disgorgement of profits, costs, and interest attributable to the aggregate of the several liability of the Non-Settling Defendants and/or named or unnamed co-conspirators and/or any other Person or party that is not a Releasee, if any, and, for greater certainty, the Plaintiff and Settlement Class Members shall be entitled to claim and seek to recover on a joint and several basis as between the Non-Settling Defendants and/or named or unnamed co conspirators and/or any other Person or party that is not a Releasee, if perm...
Bar Orders. The Plaintiffs and the Settling Parties agree that the Settlement Approval Orders shall contain a bar order which shall include the following provisions:
(a) all claims for contribution or indemnity or other claims over, whether asserted or unasserted or asserted in a representative capacity, inclusive of interest, taxes and costs relating to or arising from the Settled Claims which were or could have been brought in these Class Actions or that have been, or that could have been asserted by a separate action by any Non- Settling Defendant or by any other person or party against any of the Settling Parties, or by the Settling Parties against any Non-Settling Defendant, shall be forever barred, prohibited and enjoined;
(b) all claims of all members of the Classes against the Settling Parties of any nature whatsoever arising out of or relating in any way to the Settled Claims, which could have been brought in the Class Actions or in a separate proceeding shall be forever barred, prohibited and enjoined;
(c) a full and final release in favour of the Settling Parties in respect of the Settled Claims, by all Class Members resident in Canadian jurisdictions where the release of a joint tortfeasor does not result in a release of all joint tortfeasors;
(d) if a Non-Settling Defendant or any other person or party would have the right to make a claim for contribution and indemnity against any of the Settling Parties in the Class Actions or in any other proceedings:
(i) the Plaintiffs and/or Class Members shall not claim or be entitled to recover from the Non-Settling Defendants or any other person that portion of any loss, damages, costs, expense, or other amount awarded that corresponds to the proportionate liability of any of the Settling Parties in relation to the Settled Claims and/or Settled Projects as proven at trial in the Class Actions or in any other proceedings; and
(ii) the Court shall have full authority to determine the proportionate liability of the Settling Parties at the trials or other disposition of the Class Actions or other proceedings involving the Settled Projects as if the Settling Parties were parties to the Class Actions or other proceedings and any such finding by the Court in respect of the Settling Parties’ proportionate liability in any of the Class Actions or other proceeding in which the liability was determined shall not be binding upon the Settling Parties in any other proceedings.
Bar Orders. The Plaintiffs and the Settling Parties agree that the Settlement Approval Orders shall contain a bar order, which shall include the following provisions: