Rite Aid Corporation

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Case overview

Case Number:

3:23-bk-18993

Court:

New Jersey

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

July 24, 2024
Rite Aid's Elixir Buyer Must Pay Additional $50M In Ch. 11 Sale

Prescription benefits group MedImpact owes an extra $50 million on top of $576 million it paid Rite Aid for its former benefits division Elixir, a New Jersey bankruptcy judge ruled Wednesday, saying his earlier ruling on $200 million in disputed liabilities from the sale didn't fundamentally disrupt a post-closing price adjustment.
July 15, 2024
Giuliani Booted, Purdue Regroups, Redbox Pivots

Rudy Giuliani's Chapter 11 case was tossed for his lack of financial disclosures, Purdue Pharma pressed for renewed plan mediation as creditors hedged their bets by seeking permission to sue its owners, and the parent company of Redbox pivoted to a liquidation due to what it described as mismanagement of the business.
July 11, 2024
Rite Aid Gets OK To Sell Interests In Its Loan To MedImpact

A New Jersey bankruptcy judge on Thursday approved Rite Aid's sale of most of its interests in a $567 million loan that it made, the proceeds of which it will distribute to creditors under its Chapter 11 reorganization plan.
July 10, 2024
Rite Aid, DOJ Craft $410M Settlement Of Opioid Sale Claims

Rite Aid agreed to a nearly $410 million settlement with the U.S. Department of Justice, the bulk of which will be an unsecured claim in the company's Chapter 11 case, that will put to bed allegations the pharmacy chain dispensed opioids illegally, the DOJ announced Wednesday.
July 08, 2024
Rite Aid Says Elixir Buyer In Contempt Over Liability Dispute

Bankrupt pharmacy chain Rite Aid has asked a New Jersey bankruptcy judge to find the purchaser of its prescription benefits subsidiary in contempt, saying the buyer is defying his orders by refusing to assume $200 million of the subsidiary's liabilities.
June 28, 2024
Rite Aid Ch. 11 Plan OK'd With Insurers' Objections Resolved

A New Jersey bankruptcy judge Friday approved pharmacy chain Rite Aid's Chapter 11 restructuring plan after the company said it had resolved objections from its insurance carriers to how the plan treats their policies.
June 27, 2024
Insurers Call Rite Aid Ch. 11 Opioid Deal Unfair

Counsel for bankrupt drugstore chain Rite Aid told a New Jersey bankruptcy judge Thursday that it hopes to reach an agreement with at least some of its insurers on payments into an opioid settlement fund before closing arguments in its Chapter 11 plan confirmation Friday.
June 26, 2024
Rite Aid To Seek Dismissal Of Maryland Ch. 11 Suit

Thursday's Chapter 11 plan confirmation hearing for Rite Aid will open with arguments on whether the drugstore chain can use its bankruptcy to escape fraud claims lodged by the state of Maryland over the company's opioid sales.
June 24, 2024
Rite Aid Ch. 11 Plan Hearing Set Over Insurer Opposition

A New Jersey bankruptcy judge kept the Chapter 11 plan confirmation hearing of drugstore chain Rite Aid Corp. on track Monday, denying a request from the debtor's insurers to delay the proceedings to allow for additional discovery about the plan's impact on their contractual rights.
June 20, 2024
Insurers Say Rite Aid Ch. 11 Plan Impairs Contractual Rights

A group of insurers that issued policies to Rite Aid Corp. opposed the company's Chapter 11 plan in New Jersey bankruptcy court, saying in an objection that the plan would undercut the insurer's contractual rights and seeks to box in the insurers on the liability related to opioid claims.