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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 23, 2021

    No More Speeches, Settle This Ch. 11, Purdue Judge Urges

    Telling the parties Monday that "the time has passed at this point to speechify," the New York bankruptcy judge overseeing Purdue Pharma's bankruptcy urged the objecting states and the owning members of the Sackler family to settle their differences before the confirmation hearing resumes Wednesday.

  2. August 19, 2021

    Judge Urges Attention To Individual Stories In Purdue Ch. 11

    The sixth day of evidence in Purdue Pharma's Chapter 11 plan confirmation hearing ended Thursday with the judge walking off camera after a declaration that the damage individuals have suffered in the opioid crisis should not be lost in the complexities of the bankruptcy case.

  3. August 18, 2021

    Ex-Purdue Chair Denies Blame For Opioid Crisis

    A former president and board chairman of Purdue Pharma on Wednesday denied that the company or its owners in the Sackler family bore responsibility for the United States' opioid crisis as the confirmation hearing for Purdue's Chapter 11 plan entered its fifth day.

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. 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.

  10. 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.