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:

September 22, 2020
Trustee Bristles At New $45M Purdue Bid For Ch. 11 Bonuses

The Office of the United States Trustee objected Tuesday to a proposed $45 million Chapter 11 bonus plan from bankrupt painkiller maker Purdue Pharma, saying the company has already been approved to pay $38 million in retention and incentive bonuses to employees and the new plan doesn't contain meaningful benchmarks.
September 21, 2020
Sens. Call Purdue CEO Bonus An 'Affront' To Opioid Victims

A handful of U.S. senators urged a New York bankruptcy judge Monday to reject a compensation proposal that could see Purdue Pharma CEO Craig Landau pocket a bonus of up to $3.5 million, calling the possibility an "affront" to victims of the opioid crisis.
September 17, 2020
Purdue Wants Opioid Suit Ch. 11 Shield Extended To March

Purdue Pharma LP is asking a New York bankruptcy court to extend the injunction blocking thousands of suits against it over its role in the opioid crisis until March, saying that allowing the stay to expire in October would scuttle the progress it's made in its reorganization efforts.
August 26, 2020
NAACP To Get Its Say On Purdue Ch. 11 Opioid Settlement

Purdue Pharma told a New York bankruptcy judge Wednesday that the NAACP will get its seat at the table in the mediation to determine how the assets of the bankrupt drugmaker will be distributed to victims of the opioid crisis.
August 18, 2020
Purdue And Sacklers Caused $2.16T In Damage, NY Says

New York and 48 other states on Monday told a bankruptcy court that Purdue Pharma LP and its former owners the Sackler family have caused almost $2.16 trillion in damage to the U.S. after two decades of pushing opioids.
August 07, 2020
NAACP Wants Seat At Table In Purdue Bankruptcy Case

The NAACP on Friday asked a New York bankruptcy judge for a seat at the table in the Purdue Pharma Chapter 11, saying it needs to ensure a fair share of the proceeds of the case's opioid settlement goes to communities of color.
July 23, 2020
Judge To Wait On Claim Talks Result For Purdue Class Call

A New York bankruptcy judge Thursday agreed to adjourn a request to allow five new classes of alleged opioid victims to file claims in Purdue Pharma's Chapter 11 until after claim mediation ends, saying an agreement there would mean he wouldn't have to rule.
July 16, 2020
Purdue Asks Court To Say No To New Classes In Ch. 11 Case

Purdue Pharma asked a New York bankruptcy judge Thursday to reject requests to allow five claims by classes of alleged opioid victims in its Chapter 11 case, saying adding new classes would be an unnecessary, last-minute complication.
June 23, 2020
Purdue Gets OK For $6.5M Investment In Overdose Drug

A New York bankruptcy judge gave Purdue Pharma permission Tuesday to invest $6.5 million in a company working on an over-the-counter opioid-overdose drug, saying that keeping the development effort going was an appropriate use of the opioid-maker's money.
June 23, 2020
Purdue Wants Sackler Claims To Stay Blocked By Ch. 11

Purdue Pharma LP is asking a New York federal judge not to overturn an order keeping creditors from going after its former president, saying the judge overseeing its Chapter 11 case was right to rule that the claims would disrupt its reorganization.

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