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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. January 24, 2020

    Bankruptcy Judge OKs $1.3M Bonus For Purdue CEO

    A New York bankruptcy judge ended a monthslong dispute over pay for Purdue Pharmaceutical executives Friday, saying a $1.3 million bonus for the company's CEO is reasonable for the industry.

  2. January 21, 2020

    Purdue, Creditors Ask To Keep Stay On Insurance Arbitration

    Purdue Pharma and its unsecured creditors are asking a New York bankruptcy judge to deny an insurer's request to allow arbitration over how much product liability coverage it owes the drugmaker to proceed, saying it could severely disrupt Purdue's Chapter 11 case.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. 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. 

  10. 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.