Purdue Insurer Says Committees Can't Bring Coverage Suits

Law360 (January 19, 2021, 6:26 PM EST) -- An insurance carrier for bankrupt opioid maker Purdue Pharma has asked a New York bankruptcy judge to deny the company's request to share the right to file insurance suits with a pair of its creditor committees, saying the claims would be barred by state law.

In a motion filed Friday, Ironshore Specialty Insurance Co. said the court should reject Purdue's request to ratify an agreement made in Chapter 11 talks to grant standing to its official unsecured creditors committee and an ad hoc group of state and local governments to pursue claims against the drugmaker's insurance carriers.

"Nothing in the Bankruptcy...

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