November 26, 2024
A New York bankruptcy judge on Tuesday granted Purdue Pharma LP more time to negotiate a new settlement with certain members of the Sackler family who own the bankrupt OxyContin maker, as mediators say they have ironed out a term sheet and are getting ever closer to finalizing a deal.
November 25, 2024
Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.
November 20, 2024
More than 150 lawyers, investment bankers and financial advisers representing the creditors committee of bankrupt OxyContin maker Purdue Pharma LP billed $21.2 million as the high-stakes case reignited this summer, according to a Law360 tally of interim fee applications.
November 14, 2024
The state of Maryland argued in New York federal court Thursday that it should be allowed to pursue claims against the Sackler family members who own bankrupt OxyContin maker Purdue Pharma LP, and that a temporary injunction currently blocking a flood of litigation should be thrown out.
November 13, 2024
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.
November 04, 2024
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.
October 31, 2024
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.
October 29, 2024
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.
October 28, 2024
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.
October 23, 2024
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.