January 21, 2020
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.
December 17, 2019
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
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
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
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
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
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
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
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
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.