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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

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  1. November 13, 2024

    Purdue, Sacklers Agree To Terms As New Ch. 11 Deal Nears

    Purdue Pharma LP has agreed to some terms for a new settlement with certain members of the Sackler family, including key provisions governing the scope of liability releases and how much money the family will contribute to pay victims of the opioid crisis who are claimants in the OxyContin maker's bankruptcy case, according to an update provided by co-mediators.

  2. November 04, 2024

    Purdue Buys Time For Creditor Deal, Eletson Plan Confirmed

    Facing a litigation stay deadline after the U.S. Supreme Court overturned its Chapter 11 plan, OxyContin maker Purdue Pharma was given a new one-month extension of the stay so that its creditors and the Sacklers can continue mediating to settle claims.

  3. October 31, 2024

    Purdue Gets More Time For Deal, 'Substantial' Progress Made

    Bankrupt OxyContin maker Purdue Pharma LP on Thursday won more time to continue mediating a new settlement with its owners — certain members of the Sackler family — and reported that it is nearing a deal, in a bid to avoid having one of the most complex Chapter 11 cases in U.S. history tumble into a litigation free-for-all.

  4. October 29, 2024

    Purdue Creditors Can Sue Sacklers For $11.5B

    Creditors of bankrupt OxyContin maker Purdue Pharma LP will get the right to sue the company's owners — certain members of the Sackler family — and others for $11.5 billion, should they choose to do so, a New York judge said on Tuesday.

  5. October 28, 2024

    5 Things About The Quest For Sacklers' Billions Overseas

    Many uncertainties hang over the long-running saga of bankrupt opioid maker Purdue Pharma LP. One of the biggest, for creditors, is how to handle the Sackler family that owns the company — or more specifically — their billions of dollars held overseas.

  6. October 23, 2024

    Purdue Seeks Another Extension Of Mediation On New Plan

    OxyContin maker Purdue Pharma is asking a New York bankruptcy judge for another month to try to work out a replacement for its Chapter 11 plan and opioid settlement that were shot down by the U.S. Supreme Court in June.

  7. October 21, 2024

    Purdue Opioid Victims Group Backs Creditors In Litigation Bid

    A group of more than 60,000 victims is backing creditors of Purdue Pharma LP in their efforts to potentially sue members of the Sackler family who own the bankrupt opioid maker, and has also warned against protracted legal battles if current mediation efforts fail.

  8. October 15, 2024

    Sacklers Say Opioid Claims Can't Undo Purdue Transfers

    The family that owns bankrupt drugmaker Purdue Pharma LP is challenging an effort by creditors to claw back billions of dollars transferred by the company to Sackler trusts, telling a New York federal judge that opioid claims fail and can't be used to prove that Purdue made the distributions knowing it was insolvent.

  9. September 30, 2024

    J&J Fights For Ch. 11 Venue, NY Diocese Settles For $323M

    Johnson & Johnson and the Justice Department are set to face off in a dispute over whether the consumer products giant was justified in putting a talc unit into bankruptcy in Texas this month, after the U.S. Trustee's Office accused J&J of "forum-shopping" its third Chapter 11 filing.

  10. September 23, 2024

    Purdue Gets 35 More Days To Mediate New Ch. 11 Deal

    Bankrupt OxyContin maker Purdue Pharma LP on Monday won its latest extension to mediate a new settlement with creditors, while also shielding Sackler family members who own the company from lawsuits, after its previous deal was scuttled by the U.S. Supreme Court in June.