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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. March 16, 2021

    Unhappy AGs Have Options In Latest Purdue Ch. 11 Plan

    The worst fears of state attorneys general materialized on Tuesday when Purdue Pharma LP and the Sackler family revealed the details of the company's Chapter 11 bankruptcy plan, with many states immediately declaring their "disappointment" about accountability and remedies for the deadliest drug crisis in the nation's history.

  2. March 16, 2021

    Purdue's Ch. 11 Plan Hangs On Sackler Liability Question

    The viability of Purdue Pharma's much anticipated Chapter 11 plan hangs on whether creditors are willing to release the Sackler family from what could be heaps of liability in exchange for their $4.5 billion in contributions that would fund creditor recoveries and opioid abatement programs, experts told Law360.

  3. March 16, 2021

    Purdue Files Ch. 11 Plan That Draws Criticism From State AGs

    OxyContin maker Purdue Pharma has filed its long-awaited Chapter 11 plan with a New York bankruptcy court under which its former owners have agreed to up their contributions to an opioid abatement trust fund to almost $4.3 billion, drawing immediate criticism from several state attorneys general that the plan still falls short.

  4. March 01, 2021

    Purdue Promises Ch. 11 Plan In 2 Weeks

    Purdue Pharma told a New York bankruptcy judge Monday it will have a Chapter 11 plan to present to the court within two weeks, although it couldn't say exactly what will emerge from ongoing talks between it and its creditors.

  5. February 17, 2021

    Sackler Family Can't Keep Names Of Its Businesses Secret

    A New York bankruptcy judge Wednesday ruled that the public has a right to see the names of businesses owned by members of Purdue Pharma's former owners, the Sackler family, saying the family had not backed its argument that this could open the companies to vandalism or worse.

  6. February 01, 2021

    Purdue Sues In Ch. 11 To Access $3.3B Insurance Funds

    Certain Purdue Pharma entities and two creditor committees jointly filed an adversary suit Friday in New York bankruptcy court seeking access to at least $3.3 billion in insurance funds as the pharmaceutical giant moves closer to filing a Chapter 11 plan.

  7. January 20, 2021

    Purdue Committees Get OK To Join Insurance Suits

    A New York bankruptcy judge Wednesday gave Purdue Pharma and two of its creditor committees permission to file joint actions seeking coverage from the drugmaker's insurance carriers as the company said it is close to filing a Chapter 11 plan.

  8. January 19, 2021

    Purdue Insurer Says Committees Can't Bring Coverage Suits

    An insurance carrier for bankrupt opioid maker Purdue Pharma has asked a New York bankruptcy judge to deny the company's request to share the right to file insurance suits with a pair of its creditor committees, saying the claims would be barred by state law.

  9. December 21, 2020

    CORRECTED: Sacklers Saw Litigation Threat As Early As 2007, Creditors Say

    Members of the Sackler family, which owns OxyContin maker Purdue Pharma LP, discussed that opioid litigation could be a threat to the family and company’s finances as early as 2007, according to filings in New York bankruptcy court. Correction: A prior version of this story inaccurately framed the description of bankruptcy with respect to Purdue and the Sacklers. The error has been corrected.

  10. November 17, 2020

    Purdue Pharma Gets Court Approval For $8B Deal With Feds

    A New York bankruptcy Judge on Tuesday approved Purdue Pharma's $8 billion settlement of federal felony charges stemming from its OxyContin sales and said Purdue's former owning family can pay $225 million in fines without violating court orders.