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Purdue Pharma L.P.

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Case overview

Case Number:

7:19-bk-23649

Court:

New York Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. February 01, 2021

    Purdue Sues In Ch. 11 To Access $3.3B Insurance Funds

    Certain Purdue Pharma entities and two creditor committees jointly filed an adversary suit Friday in New York bankruptcy court seeking access to at least $3.3 billion in insurance funds as the pharmaceutical giant moves closer to filing a Chapter 11 plan.

  2. January 20, 2021

    Purdue Committees Get OK To Join Insurance Suits

    A New York bankruptcy judge Wednesday gave Purdue Pharma and two of its creditor committees permission to file joint actions seeking coverage from the drugmaker's insurance carriers as the company said it is close to filing a Chapter 11 plan.

  3. January 19, 2021

    Purdue Insurer Says Committees Can't Bring Coverage Suits

    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.

  4. December 21, 2020

    CORRECTED: Sacklers Saw Litigation Threat As Early As 2007, Creditors Say

    Members of the Sackler family, which owns OxyContin maker Purdue Pharma LP, discussed that opioid litigation could be a threat to the family and company’s finances as early as 2007, according to filings in New York bankruptcy court. Correction: A prior version of this story inaccurately framed the description of bankruptcy with respect to Purdue and the Sacklers. The error has been corrected.

  5. November 17, 2020

    Purdue Pharma Gets Court Approval For $8B Deal With Feds

    A New York bankruptcy Judge on Tuesday approved Purdue Pharma's $8 billion settlement of federal felony charges stemming from its OxyContin sales and said Purdue's former owning family can pay $225 million in fines without violating court orders.

  6. November 16, 2020

    Feds Say $225M Sackler Fine To Go To Medicare, Medicaid

    The U.S. attorney's office has told a New York bankruptcy judge that nearly all of the $225 million settlement of federal opioid litigation against the former owning family of Purdue Pharma will go into the general Medicare and Medicaid budget.

  7. November 12, 2020

    States Say $8.3B Purdue Opioid Deal Flouts Bankruptcy Rules

    A group of states on Tuesday voiced opposition to Purdue Pharma LP's $8 billion OxyContin settlement with the federal government, saying that the plan puts the bankruptcy case parties in a "straitjacket."

  8. October 28, 2020

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

    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.

  9. October 27, 2020

    Purdue Creditors Object To Sackler Part Of $8B DOJ Deal

    Creditors of drugmaker Purdue Pharma on Tuesday asked a New York bankruptcy judge to bar the use of corporate funds to pay the $225 million that members of its former owning family owe the government under the $8 billion OxyContin sale settlement announced last week.

  10. October 21, 2020

    Sackler Factor Could Sink Purdue's $8B Opioid Deal With DOJ

    While the $8 billion criminal and civil settlement OxyContin maker Purdue Pharma made with the federal government resolves the Chapter 11 claim from its single largest creditor, it could draw fatal opposition in bankruptcy court for failing to address the potential liability related to the Sackler family's ownership of the company.

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