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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. November 12, 2020

    States Say $8.3B Purdue Opioid Deal Flouts Bankruptcy Rules

    A group of states on Tuesday voiced opposition to Purdue Pharma LP's $8 billion OxyContin settlement with the federal government, saying that the plan puts the bankruptcy case parties in a "straitjacket."

  2. October 28, 2020

    Fight Over Sackler Deal On Hold For Purdue Ch. 11 Plan Talks

    Whether Purdue Pharma's unsecured creditors can stop the Sackler family from using corporate funds to pay a $225 million fine that's part of the $8 billion OxyContin settlement with the federal government will wait for parties to negotiate over the company's Ch. 11 plan, a New York bankruptcy judge said Wednesday.

  3. October 27, 2020

    Purdue Creditors Object To Sackler Part Of $8B DOJ Deal

    Creditors of drugmaker Purdue Pharma on Tuesday asked a New York bankruptcy judge to bar the use of corporate funds to pay the $225 million that members of its former owning family owe the government under the $8 billion OxyContin sale settlement announced last week.

  4. October 21, 2020

    Sackler Factor Could Sink Purdue's $8B Opioid Deal With DOJ

    While the $8 billion criminal and civil settlement OxyContin maker Purdue Pharma made with the federal government resolves the Chapter 11 claim from its single largest creditor, it could draw fatal opposition in bankruptcy court for failing to address the potential liability related to the Sackler family's ownership of the company.

  5. October 16, 2020

    Purdue, Sacklers Say Atty-Client Privilege Shields Documents

    Purdue Pharma and members of its former owning family are asking a New York bankruptcy judge to reject new document requests by the unsecured creditors committee in its Chapter 11 case, saying the committee is seeking privileged communications without justification.

  6. October 14, 2020

    State AGs Bash DOJ's Proposed Opioid Deal With Purdue

    Dozens of state attorneys general on Wednesday slammed the U.S. Department of Justice's plan to preserve Purdue Pharma as a public beneficiary trust through a proposed settlement that could end federal liability the company faces for its alleged role in the opioid epidemic.

  7. September 30, 2020

    Purdue Pharma Gets OK For Payments, Opioid Suit Shield

    A New York bankruptcy judge on Wednesday gave Purdue Pharma another five months free from opioid suits and permission to make $26 million in employee retention payments after being told claim distribution mediation between the drugmaker and its creditors is bearing fruit.

  8. September 22, 2020

    Trustee Bristles At New $45M Purdue Bid For Ch. 11 Bonuses

    The Office of the United States Trustee objected Tuesday to a proposed $45 million Chapter 11 bonus plan from bankrupt painkiller maker Purdue Pharma, saying the company has already been approved to pay $38 million in retention and incentive bonuses to employees and the new plan doesn't contain meaningful benchmarks.

  9. September 21, 2020

    Sens. Call Purdue CEO Bonus An 'Affront' To Opioid Victims

    A handful of U.S. senators urged a New York bankruptcy judge Monday to reject a compensation proposal that could see Purdue Pharma CEO Craig Landau pocket a bonus of up to $3.5 million, calling the possibility an "affront" to victims of the opioid crisis.

  10. September 17, 2020

    Purdue Wants Opioid Suit Ch. 11 Shield Extended To March

    Purdue Pharma LP is asking a New York bankruptcy court to extend the injunction blocking thousands of suits against it over its role in the opioid crisis until March, saying that allowing the stay to expire in October would scuttle the progress it's made in its reorganization efforts.