Fight Over Sackler Deal On Hold For Purdue Ch. 11 Plan Talks

Law360 (October 28, 2020, 7:37 PM EDT) -- Whether Purdue Pharma's unsecured creditors can stop the Sackler family from using corporate funds to pay a $225 million fine that's part of the $8 billion OxyContin settlement with the federal government will wait for parties to negotiate over the company's Ch. 11 plan, a New York bankruptcy judge said Wednesday.

Following a telephone hearing, U.S. Bankruptcy Judge Robert Drain told counsel for the Sackler family, which owns Purdue, that while he was inclined to agree that the payment should be allowed, he would wait for a November hearing before ruling to see if either a Chapter 11 plan settlement or...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!