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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. May 18, 2022

    Purdue Ch. 11 Bonus Plan Gets Court OK, CEO's Delayed

    Timing adjustments and tweaks defused the limited objections to a $33.8 million bonus package for key employees of bankrupt Purdue Pharma LP, with the plan winning approval Wednesday from a federal bankruptcy judge in the Southern District of New York.

  2. May 17, 2022

    The Week In Bankruptcy: Purdue Bonus, PR Pension Appeal

    Two dozen states objected to proposed bonus payments for the CEO of bankrupt drugmaker Purdue Pharma, the First Circuit declined to rehear an appeal over changes made to Puerto Rican teacher pensions as part of the island's restructuring, and Affordable Care Act penalties are taxes in bankruptcy court. This is the week in bankruptcy.

  3. May 13, 2022

    States Say Purdue CEO Should Answer For Opioid Crisis Role

    A group of state attorneys general have once again objected to proposed bonus payments for Purdue Pharma LP's CEO, telling a New York bankruptcy judge that he was a part of the corporate culture that led to the national opioid crisis.

  4. April 27, 2022

    Purdue Ch. 11 Injunction Extended Pending 2nd Circ. Decision

    A preliminary injunction barring the pursuit of claims against bankrupt drugmaker Purdue Pharma LP and the Sackler family will be extended for at least another month as the parties await a Second Circuit ruling on an appeal of releases included in the company's confirmed Chapter 11 plan.

  5. March 23, 2022

    Purdue Gets Another Opioid Suit Freeze Amid Ch. 11 Appeal

    A New York bankruptcy judge Wednesday froze opioid litigation against Purdue Pharma for another month while the defunct drugmaker seeks Second Circuit approval for its newly beefed-up Chapter 11 plan.

  6. March 10, 2022

    Opioid Victims Get Chance To Confront Sacklers In Court

    For the first time, members of the Sackler family who own Purdue Pharma faced testimony about the human cost of the company's painkiller OxyContin, as 26 victims and survivors of the national opioid crisis gathered in New York bankruptcy court Thursday to tell their stories of loss and pain from addiction.

  7. March 09, 2022

    Tribes Say States Owe Them Part Of Purdue's New $5.5B Deal

    A Tribal Leadership Committee objected to the approval of Purdue Pharma's new $5.5 billion settlement, claiming that part of the settlement money set aside for several states and local governments will not give the tribes their agreed-upon 3% of the shunted $277 million portion.

  8. March 09, 2022

    Purdue Gets Approval For New $5.5B Ch. 11 Sackler Deal

    An enhanced settlement with the members of the Sackler family who own bankrupt drugmaker Purdue Pharma LP received court approval Wednesday in New York and will see the Sacklers contribute at least $5.5 billion to opioid abatement trusts if the debtor's plan can be confirmed.

  9. March 07, 2022

    NY, NJ Towns Fight $277M 'Hush Money' In Purdue Deal

    A slew of towns in New York and New Jersey on Monday objected to bankrupt drugmaker Purdue Pharma's new $5.5 billion Chapter 11 settlement, arguing that the deal contains nearly $277 million in "hush money" that will go to eight states and the District of Columbia for dropping their appeals.

  10. March 03, 2022

    Purdue Reaches Final Terms On New $5.5B Ch. 11 Settlement

    The mediator running negotiations between bankrupt drugmaker Purdue Pharma LP and the nine states that opposed its vacated Chapter 11 plan said Thursday the sides have reached a new deal that will see contributions from the Sackler family members who own the debtor increase to at least $5.5 billion.