Purdue Reaches Final Terms On New $5.5B Ch. 11 Settlement
By Vince Sullivan (March 3, 2022, 11:54 AM EST) -- The mediator running negotiations between bankrupt drugmaker Purdue Pharma LP and the nine states that opposed its vacated Chapter 11 plan said Thursday the sides have reached a new deal that will see contributions from the Sackler family members who own the debtor increase to at least $5.5 billion.
Purdue Pharma and the nine states that opposed its Chapter 11 plan have agreed to a new deal. (AP Photo/Douglas Healey) In a report filed Thursday morning, the mediator, U.S. Bankruptcy Judge Shelley C. Chapman, said negotiations continued around the clock earlier this week after the mediation deadlines were repeatedly extended by...
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