This program explores current hot-button topics relating to the drafting and confirmation of chapter 11 plans. The issues discussed include drafting to accommodate, as well as to either encourage or discourage § 1111(b) elections, and the strategy of holders of secured claims in either making or not making that election. It also includes a discussion of third-party releases and injunctions, using recent cases in the First Circuit to illustrate when such releases are, and are not, appropriate. Finally, the panel will explore the tension between class-skipping carve-outs or “gifts” and the requirements of confirmation, how to deal with corporate debt defined by § 1141(d)(6) as being not dischargeable, compensation of committee members and the role of existing equity.