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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

Companies

Government Agencies

Sectors & Industries:

  1. January 02, 2025

    Bankruptcy News You May Have Missed Over The Holiday

    The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with mattress seller Serta Simmons, reversing a bankruptcy court's ruling in a closely watched case on liability management transactions; Purdue Pharma secured a one-month extension as its creditors and members of the Sackler family try to reach a settlement in mediation; and retail chain Big Lots reached an eleventh-hour deal to sell some of its stores and thwart a total liquidation.

  2. December 17, 2024

    Purdue, FTX Top Biggest Bankruptcy Cases, Trends Of 2024

    The U.S. Supreme Court's decision to throw out nonconsensual third-party releases in opioid maker Purdue Pharma's Chapter 11 reverberated through the bankruptcy domain in unexpected ways this year, but it was just one among many major events to shape bankruptcy in 2024.

  3. November 26, 2024

    Purdue Wins Shortened Extension Of Ch. 11 Deal Talks

    A New York bankruptcy judge on Tuesday granted Purdue Pharma LP more time to negotiate a new settlement with certain members of the Sackler family who own the bankrupt OxyContin maker, as mediators say they have ironed out a term sheet and are getting ever closer to finalizing a deal.

  4. November 25, 2024

    Alex Jones Blasts Onion Bid, FTX Tech Deputy Avoids Prison

    Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.

  5. November 20, 2024

    Lawyers In Purdue Bankruptcy Get OK For Millions In Fees

    More than 150 lawyers, investment bankers and financial advisers representing the creditors committee of bankrupt OxyContin maker Purdue Pharma LP billed $21.2 million as the high-stakes case reignited this summer, according to a Law360 tally of interim fee applications.

  6. November 14, 2024

    Maryland Seeks To Undo Litigation Pause In Purdue Appeal

    The state of Maryland argued in New York federal court Thursday that it should be allowed to pursue claims against the Sackler family members who own bankrupt OxyContin maker Purdue Pharma LP, and that a temporary injunction currently blocking a flood of litigation should be thrown out.

  7. November 13, 2024

    Purdue, Sacklers Agree To Terms As New Ch. 11 Deal Nears

    Purdue Pharma LP has agreed to some terms for a new settlement with certain members of the Sackler family, including key provisions governing the scope of liability releases and how much money the family will contribute to pay victims of the opioid crisis who are claimants in the OxyContin maker's bankruptcy case, according to an update provided by co-mediators.

  8. November 04, 2024

    Purdue Buys Time For Creditor Deal, Eletson Plan Confirmed

    Facing a litigation stay deadline after the U.S. Supreme Court overturned its Chapter 11 plan, OxyContin maker Purdue Pharma was given a new one-month extension of the stay so that its creditors and the Sacklers can continue mediating to settle claims.

  9. October 31, 2024

    Purdue Gets More Time For Deal, 'Substantial' Progress Made

    Bankrupt OxyContin maker Purdue Pharma LP on Thursday won more time to continue mediating a new settlement with its owners — certain members of the Sackler family — and reported that it is nearing a deal, in a bid to avoid having one of the most complex Chapter 11 cases in U.S. history tumble into a litigation free-for-all.

  10. October 29, 2024

    Purdue Creditors Can Sue Sacklers For $11.5B

    Creditors of bankrupt OxyContin maker Purdue Pharma LP will get the right to sue the company's owners — certain members of the Sackler family — and others for $11.5 billion, should they choose to do so, a New York judge said on Tuesday.