February 18, 2025
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 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 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
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
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
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
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.
January 21, 2025
The final holdouts among two branches of Sackler family members are ready to join a settlement in the bankruptcy of OxyContin maker Purdue Pharma LP, a business owned by the family, according to a report from the co-mediators handling negotiations.
January 13, 2025
OxyContin maker Purdue Pharma LP has inked a 50-page term sheet and 75-page draft master settlement agreement that could resolve its more than 5-year-old bankruptcy case after its last plan was tossed out, it said in a New York court filing.
January 02, 2025
The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with mattress seller Serta Simmons, reversing a bankruptcy court's ruling in a closely watched case on liability management transactions; Purdue Pharma secured a one-month extension as its creditors and members of the Sackler family try to reach a settlement in mediation; and retail chain Big Lots reached an eleventh-hour deal to sell some of its stores and thwart a total liquidation.