Purdue Says It May Have To Push Back Ch. 11 Schedule

Law360 (May 20, 2021, 3:17 PM EDT) -- Drugmaker Purdue Pharma told a New York bankruptcy judge Thursday that it may not be able to keep to the schedule it set for its Chapter 11 case, saying it is hitting some "intractable" issues as it negotiates the terms of its restructuring.

At a virtual hearing that was supposed to have seen Purdue ask U.S. Bankruptcy Judge Robert Drain to approve the disclosure statement for its Chapter 11 plan, the company's counsel instead told Judge Drain it may not have the statement ready by next week's scheduled hearing, putting its scheduled August plan confirmation hearing out of reach.

"We're not...

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