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 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.
January 27, 2025
Purdue Nears Ch. 11 Deal, Yellow Corp. Fends Off WARN Suit

From a looming settlement in the Purdue bankruptcy to a pair of retailers overcoming objections to their Chapter 11 plans, here are some of the biggest bankruptcy news from the past week.
January 24, 2025
Sackler Injunction Extended Ahead Of New Purdue Ch. 11 Plan

A New York bankruptcy judge agreed Friday to extend an injunction blocking litigation against the former owners of Purdue Pharma for another month after being told a deal on a new Chapter 11 plan for the OxyContin maker is imminent.
January 23, 2025
15 States Reach $7.4B Settlement With Sackler Family

A bipartisan coalition of states on Thursday announced a $7.4 billion settlement in principle with the Sackler family and their company Purdue Pharma Inc., representing the largest settlement to date with the family accused of contributing significantly to the opioid epidemic.

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