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:

March 25, 2025
Purdue Mediators Say US Trustee OK With New Releases

The mediators guiding plan negotiations among bankrupt drugmaker Purdue Pharma and its various creditor constituencies said in a Tuesday report that the U.S. Trustee's Office has agreed to release language in the debtor's latest plan after fighting an earlier version all the way to the Supreme Court.
March 24, 2025
Purdue Files New Plan, Forever 21 Hits Ch. 11 For 2nd Time

Purdue Pharma proposed a new bankruptcy plan, under which the Sackler family and the company would pay a total of $7.4 billion to settle opioid-related claims. Meanwhile, Forever 21's U.S. arm filed for Chapter 11 protection in Delaware, securing court approval to close more than 300 stores and planning to exit bankruptcy by June. Plus, a Texas bankruptcy judge rejected an $8 million bid to purchase right-wing conspiracy theory peddler Alex Jones' Infowars, shutting down a request to reopen the asset sale process.
March 19, 2025
Purdue Pharma Files New $7.4B Ch. 11 Plan Settlement

Bankrupt OxyContin maker Purdue Pharma LP filed a new Chapter 11 plan in a New York bankruptcy court, including a $6.5 billion payment from members of the Sackler family who own the company and $900 million from the debtor, that aims to compensate thousands of creditors for damages from opioid sales.
March 03, 2025
$7.4B Deal Nets Purdue More Time, J&J Spinoff Ends Trial

Purdue Pharma received approval for more mediation time after telling a judge that it had reached definitive terms on a new $7.4 billion settlement of opioid claims; a two-week trial over whether to confirm the $10 billion Chapter 11 plan of Johnson & Johnson's talc spinoff wrapped up; and an artificial-intelligence cryptocurrency business asked a Texas bankruptcy judge to restart an asset auction for Alex Jones' Infowars platform.
February 25, 2025
Purdue Gets Time To Document New $7.4B Ch. 11 Settlement

Counsel for bankrupt drugmaker Purdue Pharma received approval Tuesday for an extension of a mediation window during which litigation against nondebtors is paused after telling a New York judge that it has reached definitive terms on a new $7.4 billion settlement of opioid claims and needs time to finalize documentation surrounding the deal.
February 24, 2025
Purdue's New Ch. 11 Plan Sidesteps Nonconsensual Releases

Mediators helping to craft a new settlement in the case of bankrupt OxyContin maker Purdue Pharma LP said in their latest update in New York bankruptcy court that the company's revised deal does not contain nonconsensual third-party waivers.
February 18, 2025
Willkie DQ'd, Guo Clawbacks Continue

Franchise Group must find new bankruptcy counsel after a judge in Delaware found Willkie Farr & Gallagher LLP was conflicted in its case. The court-appointed trustee investigating Miles Guo's shell companies got another deadline extension to chase down estate funds. Spirit Airlines is awaiting confirmation of its reorganization plan. And bankrupt bitcoin miner Rhodium Encore has hit back at its landlord in court, alleging a campaign of sabotage.
February 12, 2025
Purdue Asks For Another Month To Work On Ch. 11 Deal

Purdue Pharma is asking a New York bankruptcy judge to extend the litigation shield for its former owners for another month, saying while it hopes to have a plan in writing by next week it still needs the breathing room to get the plan on file.
February 05, 2025
Purdue Pharma Seeks To Wind Down Pension Plan For $43M

Purdue Pharma LP has asked a New York bankruptcy judge for permission to terminate a pension plan that has more than 3,000 participants, arguing the present value of the plan's assets and favorable economic conditions make it a "particularly opportune time" to wind it down.
January 28, 2025
Trump's CMS Suit U-Turn, Sacklers Settle, And Trans Suit Stay

Law360 Healthcare Authority recaps the significant cases and decisions that shaped the healthcare industry over the past week, including the Trump administration’s reversal on a case challenging the Medicare Advantage star rating system, a freeze on a lawsuit over a Biden-era gender dysphoria rule, and the Sackler family’s $7.4 billion opioid settlement.

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