Brief

Purdue Can Pay CEO Ch. 11 Bonus After Trimming Comp

By Ben Zigterman · September 17, 2025, 3:12 PM EDT

A New York bankruptcy judge Wednesday approved a nearly $3 million incentive program for Purdue Pharma's chief executive after he agreed to reduce his total compensation by $500,000....

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Bankruptcy Scorecard

Summary

Purdue Pharma filed for bankruptcy after reaching a settlement deal to end over 2,600 lawsuits that accused the maker of OxyContin of fueling a national opioid addiction crisis. In June 2024, the U.S. Supreme Court overturned Purdue's Chapter 11 plan finding non-debtor third parties, like Purdue's former owners the Sackler family, aren't authorized to receive non-consensual liability waivers under the U.S. Bankruptcy Code.

Case Number

19-bk-23649

Judge

Sean H. Lane

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

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Related Sections

Case Information

Case Title

Purdue Pharma L.P.

Case Number

7:19-bk-23649

Court

New York Southern

Nature of Suit

Date Filed

September 15, 2019

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