Purdue Agrees To Put Off Consideration Of Ch. 11 Bonuses

Law360 (October 8, 2019, 8:38 PM EDT) -- Bankrupt drugmaker Purdue Pharma LP told a New York judge Tuesday that it had reached an agreement with unsecured creditors and others to delay final consideration of certain employee bonuses proposed in its Chapter 11 case.

In the response in support of its wages and benefits motion, Purdue said it has been engaged in negotiations with the official committee of unsecured creditors and the ad hoc committee of government claimants and has come to a deal to allow additional time for those parties to complete their diligence efforts with respect to certain aspects of the motion.

As part of the deal,...

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