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 22, 2021
States Say Time Has Come To Let Sackler Suits Proceed

A group of states asked a New York bankruptcy judge Friday to deny Purdue Pharma's latest request to extend the injunction pausing their suits against the Sackler family, saying allowing their claims to go forward will create a better Chapter 11 plan.
March 16, 2021
Unhappy AGs Have Options In Latest Purdue Ch. 11 Plan

The worst fears of state attorneys general materialized on Tuesday when Purdue Pharma LP and the Sackler family revealed the details of the company's Chapter 11 bankruptcy plan, with many states immediately declaring their "disappointment" about accountability and remedies for the deadliest drug crisis in the nation's history.
March 16, 2021
Purdue's Ch. 11 Plan Hangs On Sackler Liability Question

The viability of Purdue Pharma's much anticipated Chapter 11 plan hangs on whether creditors are willing to release the Sackler family from what could be heaps of liability in exchange for their $4.5 billion in contributions that would fund creditor recoveries and opioid abatement programs, experts told Law360.
March 16, 2021
Purdue Files Ch. 11 Plan That Draws Criticism From State AGs

OxyContin maker Purdue Pharma has filed its long-awaited Chapter 11 plan with a New York bankruptcy court under which its former owners have agreed to up their contributions to an opioid abatement trust fund to almost $4.3 billion, drawing immediate criticism from several state attorneys general that the plan still falls short.
March 01, 2021
Purdue Promises Ch. 11 Plan In 2 Weeks

Purdue Pharma told a New York bankruptcy judge Monday it will have a Chapter 11 plan to present to the court within two weeks, although it couldn't say exactly what will emerge from ongoing talks between it and its creditors.
February 17, 2021
Sackler Family Can't Keep Names Of Its Businesses Secret

A New York bankruptcy judge Wednesday ruled that the public has a right to see the names of businesses owned by members of Purdue Pharma's former owners, the Sackler family, saying the family had not backed its argument that this could open the companies to vandalism or worse.
February 01, 2021
Purdue Sues In Ch. 11 To Access $3.3B Insurance Funds

Certain Purdue Pharma entities and two creditor committees jointly filed an adversary suit Friday in New York bankruptcy court seeking access to at least $3.3 billion in insurance funds as the pharmaceutical giant moves closer to filing a Chapter 11 plan.
January 20, 2021
Purdue Committees Get OK To Join Insurance Suits

A New York bankruptcy judge Wednesday gave Purdue Pharma and two of its creditor committees permission to file joint actions seeking coverage from the drugmaker's insurance carriers as the company said it is close to filing a Chapter 11 plan.
January 19, 2021
Purdue Insurer Says Committees Can't Bring Coverage Suits

An insurance carrier for bankrupt opioid maker Purdue Pharma has asked a New York bankruptcy judge to deny the company's request to share the right to file insurance suits with a pair of its creditor committees, saying the claims would be barred by state law.
December 21, 2020
CORRECTED: Sacklers Saw Litigation Threat As Early As 2007, Creditors Say

Members of the Sackler family, which owns OxyContin maker Purdue Pharma LP, discussed that opioid litigation could be a threat to the family and company’s finances as early as 2007, according to filings in New York bankruptcy court. Correction: A prior version of this story inaccurately framed the description of bankruptcy with respect to Purdue and the Sacklers. The error has been corrected.

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