Analysis

Bankruptcy Watchdog Bares Teeth At BigLaw In Purdue Ch. 11

Law360 (April 29, 2021, 9:25 PM EDT) -- The U.S. Trustee's Office's $1 million settlement with Skadden, WilmerHale and Dechert for failing to disclose connections with the Sackler family and Purdue Pharma in its Chapter 11 case was a shot across the bow of large bankruptcy firms, and BigLaw would be wise to take notice, experts told Law360.

The bankruptcy watchdog in the Southern District of New York flexed its enforcement muscles against Skadden Arps Slate Meagher & Flom LLP, WilmerHale and Dechert LLP, which it seldom does in large corporate cases. In the negotiated deal, the U.S. Trustee took a firm stand on an issue that is usually not a point of...

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