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:

December 17, 2019
Sacklers Withdrew $10B From Purdue, Bankruptcy Probe Says

The Sackler family, owners of OxyContin maker Purdue Pharma LP, withdrew $10.4 billion from the company since 2008 as the company faced rising scrutiny over its role in the opioid crisis, according to a report filed Monday in New York bankruptcy court.
December 10, 2019
States Demand Purdue Fight Opioid Crisis With 9-Point Plan

Two dozen states opposed to Purdue Pharma's opioid crisis settlement are asking the bankrupt OxyContin maker to take nine actions to reduce the number of overdose deaths nationwide, saying that in the first half of 2019 alone in Massachusetts, more than two patients prescribed the drug died from overdoses each week.
December 09, 2019
High Court Won't Hear Arizona's Opioid Suit Against Sacklers

The U.S. Supreme Court on Monday declined to hear Arizona's unusual proposed complaint aimed at forcing the Sackler family, the owners of bankrupt OxyContin seller Purdue Pharma LP, to pay back billions of dollars they allegedly raided from the company.
December 04, 2019
Judge Holds Decision On Purdue Pharma CEO Bonus

A New York bankruptcy judge Wednesday said he would approve nearly $46 million in bonus payments for employees of Purdue Pharma, but held off considering a $1.3 million bonus for the company's CEO after hearing last-minute evidence of a $6 million payment made to him last year.
November 19, 2019
Purdue Gets OK To Pay States' Costs In Opioid-Related Ch. 11

A New York bankruptcy judge on Tuesday gave Purdue Pharma permission to pay the expenses of state governments participating in a settlement of claims related to Purdue's role in the opioid epidemic.
November 18, 2019
Purdue Opioid Claims Need National Fix, High Court Told

The U.S. Supreme Court has the authority to hear Arizona's unusual proposed complaint aimed at forcing the owners of bankrupt OxyContin seller Purdue Pharma LP to pay back billions of dollars they allegedly raided from the company, the state said Monday.
November 18, 2019
US Trustee Says Sackler Ties Bar E&Y From Purdue Ch. 11

Ernst & Young LLP shouldn't be allowed to serve as bankrupt Purdue Pharma LP's auditor because of the accounting firm's ongoing work for the Sackler family — which is expected to pay billions of dollars toward a massive settlement over Purdue's opioid marketing practices — the federal bankruptcy watchdog is arguing.
November 15, 2019
Purdue Says Paying States' Costs Will Help Ch. 11 Estate

Bankrupt drugmaker Purdue Pharma LP told a New York bankruptcy court Friday that its plan to pay the expenses of state governments participating in a settlement of claims related to Purdue's role in the opioid epidemic is a sound exercise of its business judgment and is essential to the Chapter 11 case.
November 14, 2019
Purdue's Law Firms Must Return Retainers, US Trustee Says

The U.S. trustee in Purdue Pharma LP's bankruptcy case has objected to the company's bid to let its law firms, including Skadden and Davis Polk, keep the retainers they were paid before Purdue's bankruptcy filing, saying the move unfairly favors those firms over other creditors in the case.
November 13, 2019
Purdue Claimants Oppose Payment Of Settling States' Costs

Unsecured creditors and individual claimants in the Purdue Pharma Chapter 11 are asking a New York bankruptcy judge to deny the company permission to pay the legal bills of a group of states that reached a tentative deal with the drugmaker.

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