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Mealeys

MLex

Purdue Pharma L.P.

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Case overview

Case Number:

7:19-bk-23649

Court:

New York Southern

Nature of Suit:

Firms

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  1. August 17, 2021

    Sacklers Say They'll Fight Any Attempt To Foil Ch. 11 Releases

    A member of the Purdue Pharma-owning Sackler family told a New York bankruptcy judge Tuesday that his family will not settle opioid claims without the releases in the company's proposed Chapter 11 plan and promised protracted fights against attempts to seek damages outside of bankruptcy.

  2. August 16, 2021

    Sackler Reps Say They Can't Sell Assets Without Releases

    The liability releases for Purdue Pharma-owning members of the Sackler family in its Chapter 11 plan must stand in order for a court in the British Crown dependency of Jersey to release assets needed to fund the $4.5 billion settlement at its center, family representatives told a New York bankruptcy court Monday.

  3. August 13, 2021

    Sacklers' Ch. 11 Releases Are Fair, Supporting States Say

    States and other government bodies that consented to Purdue Pharma's Chapter 11 plan defended the plan's liability releases for members of the Sackler family as the confirmation trial entered its second day Friday, arguing that it's a fair deal to fund opioid abatement.

  4. August 12, 2021

    Purdue's Ch. 11 Trial Opens With Attacks On Sackler Releases

    States took immediate aim at Purdue Pharma's Chapter 11 plan letting members of the Sackler family off the hook for liability, asking at the two-week confirmation trial that kicked off in New York bankruptcy court Thursday if the company had looked at all the alternatives.

  5. August 09, 2021

    Purdue Allotted 10 Days For Ch. 11 Confirmation Trial

    OxyContin maker Purdue Pharma's Chapter 11 plan confirmation trial will be limited to 10 days, after a New York bankruptcy judge said Monday that objectors to the plan had requested far too much time to cross-examine the debtor's fact and expert witnesses.

  6. August 06, 2021

    Purdue Pharma Says Sackler Releases Are Vital To Ch. 11 Plan

    Bankrupt OxyContin maker Purdue Pharma LP is asking a New York bankruptcy judge to approve its Chapter 11 plan as it defends its $4.5 billion settlement with members of the Sackler family as necessary for the plan to work.

  7. July 29, 2021

    Purdue Pharma Gets OK For $22M Worker Bonus Program

    A New York bankruptcy judge Thursday gave Purdue Pharma the go-ahead to pay up to $22.1 million in retention bonuses to midlevel workers, rejecting calls to delay the decision until after next month's Chapter 11 plan confirmation hearing.

  8. July 27, 2021

    Purdue Pharma Reports Glowing Vote Results For Ch. 11 Plan

    Bankrupt OxyContin maker Purdue Pharma said Tuesday it had achieved widespread support among voting creditors for its Chapter 11 plan, saying more than 95% of the 120,000 votes submitted are in favor of its proposal.

  9. July 20, 2021

    Examiner Clears Sacklers Of Influencing Purdue's Board

    An examiner appointed in the Chapter 11 case of drugmaker Purdue Pharma LP told a New York bankruptcy court late Monday that the company's board acted independently of the Sackler family when it proposed a $4.5 billion settlement with the owners that forms the basis of its bankruptcy plan.

  10. July 19, 2021

    US Trustee Flags Sacklers' Release, Atty Fees In Purdue Plan

    The U.S. Trustee's Office on Monday objected to Purdue Pharma's proposed Chapter 11 plan, pointing to the "extraordinarily broad release" of the Sackler family from opioid crisis-related claims and up to $500 million in attorney fees "without court oversight and approval."