Purdue Statement Gives Creditors Enough Info, Judge Says

Law360 (May 26, 2021, 9:01 PM EDT) -- A New York bankruptcy judge gave a preliminary nod Wednesday to Purdue Pharma's Chapter 11 plan disclosures, but held off on an approval order after the drugmaker said it needed to clear up some disputes and add a few details to the statement.

Following a seven-hour hearing held virtually, U.S. Bankruptcy Judge Robert Drain said that as it stands Purdue's disclosure gives creditors enough information to decide how to vote on the plan, but that he would hold off on a final order until possibly next week while Purdue fills in some blanks and resolves what the company said were "tiny"...

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