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:

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."
July 16, 2021
Bankruptcy Cases To Watch In The Second Half Of 2021

Though the pace of new bankruptcy cases slowed in the first half of 2021, the proceedings of large and complex cases continue to wind their way through the nation's insolvency courts. Here, Law360 gives a preview of what to expect for the remainder of 2021 in significant pending cases.
July 12, 2021
US Trustee Calls For Hold On $29M In Purdue Bonuses

The U.S. Trustee's Office on Monday asked a New York bankruptcy judge to reject Purdue Pharma's request to pay up to $29 million in employee bonuses, saying that with the company possibly on the verge of reorganization the issue should be put on hold.
June 30, 2021
Reps Urge DOJ To Deny Sacklers Releases In Purdue Ch. 11

Two members of the House Committee on Oversight and Reform urged Attorney General Merrick Garland to oppose confirmation of the Chapter 11 plan of drugmaker Purdue Pharma, saying granting releases to the company's ownership would be incompatible with the U.S. Department of Justice's position on non-debtor releases.
June 29, 2021
Bankrupt Purdue Pitches $5.39M Exec Payment Plan

Purdue Pharma asked a New York bankruptcy court Monday to approve the OxyContin drugmaker's 2021 employee incentive and retention plans, which propose to pay its top five executives up to $5.39 million this year, with its general counsel receiving a seven-figure pay package.
June 16, 2021
Examiner With Narrow Scope Approved In Purdue Ch. 11

A New York bankruptcy judge begrudgingly approved the appointment of an examiner in the Chapter 11 case of OxyContin maker Purdue Pharma LP on Wednesday, saying he was doing so only because the baseless allegations included in the examiner motion needed to be addressed publicly.
June 14, 2021
Purdue Hits Back At Creditor's Motion For Ch. 11 Examiner

Bankrupt OxyContin maker Purdue Pharma LP attacked a creditor's motion seeking the appointment of a Chapter 11 examiner, telling a New York judge that the creditor's arguments that the debtor's owners steamrolled the company into accepting a $4.5 billion settlement are baseless and would threaten the debtor's proposed Chapter 11.
June 03, 2021
Purdue Asks To Extend Opioid Suit Shield To End Of Summer

Purdue Pharma has asked a New York bankruptcy judge for a 75-day extension on an injunction pausing suits over opioid sales against it and its owners, the Sackler family, saying they need protection as they "sprint" to the confirmation of Purdue's Chapter 11 plan.
May 26, 2021
Purdue Statement Gives Creditors Enough Info, Judge Says

A New York bankruptcy judge gave a preliminary nod Wednesday to Purdue Pharma's Chapter 11 plan disclosures, but held off on an approval order after the drugmaker said it needed to clear up some disputes and add a few details to the statement.
May 24, 2021
Purdue's New Ch. 11 Plan Docs Detail Claims Trust Framework

Bankrupt drug manufacturer Purdue Pharma LP filed an amended Chapter 11 plan and supporting documents Monday in New York court that provide details on how $1.4 billion in distributions will be shared by different groups of claimants in the case.

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