Page 25 - Robert Drain News Today

The Sacklers, the family that founded OxyContin-maker Purdue Pharma, are estimated to be worth $11 billion.

The Sacklers, the family that founded OxyContin-maker Purdue Pharma, are estimated to be worth $11 billion.

$2,300 Phone Call. $1,000 Cab Ride. Purdue Runs Up $400M Bankruptcy Tab. By Jeremy Hill and Dawn McCarty | May 12, 2021 One phone call with the Department of Justice: $2,300. Two days at the Ritz-Carlton: $830. Oh, and a lengthy cab ride to and from the court in White Plains, New York — that’ll be $1,000. Those are just some of the almost $400 million of fees and expenses racked up by professionals working the bankruptcy of Stamford, Connecticut-based Pur...

With $2,300 Phone Calls, Purdue Runs Up Huge Bankruptcy Tab By Jeremy Hill and Dawn McCarty | May 12, 2021 One phone call with the Department of Justice: $2,300. Two days at the Ritz-Carlton: $830. Oh, and a lengthy cab ride to and from the court in White Plains, New York — that’ll be $1,000. Those are just some of the almost $400 million of fees and expenses racked up by professionals working the bankruptcy of Stamford, Connecticut-based Purdue Pharma LP...

Under a bankruptcy procedure prohibited by courts in part of the country, the Sacklers could be sheltered from opioid lawsuits even without declaring bankruptcy. Some states are crying foul.

Originally published on May 3, 2021 9:20 am For months, members of the Sackler family that owns Purdue Pharma, the maker of Oxycontin, have portrayed their bid for immunity from future opioid lawsuits as a kind of fait accompli, a take-it-or-leave-it fix to a legal morass. In exchange for what amounts to a legal firewall for the Sacklers and their remaining empire, members of the family have offered to forfeit control of their bankrupt drug company and pay $4.2 billion from their private fort...

fait accompli, a take-it-or-leave it fix to a legal morass. In exchange for what amounts to a legal firewall for the Sacklers and their remaining empire, members of the family have offered to forfeit control of their bankrupt drug company and pay $4.2 billion from their private fortunes. Judge Robert Drain who is presiding over the case in White Plains, N.Y., has suggested such a deal may be desirable and achievable along these broad lines. A negotiated settlement could pre-empt years of co...

Bankruptcy option and will keep over 4, 500 sears store open. he upped the bid to $5.2 billion winning the auction and beating out a bid that would have sold sears for parts, liquidating everything for cash. that liquidation bid was supported by groups that are owed money like creditors and landlords. the judge has to sign off on the bid at a hearing february 1 in white plains, new york. the judge presiding over that, robert drain, has pushed for lampert to make this deal with sears and save the...

Leaving curb negotiations on how and where to raise taxes. a federal bankruptcy judge paved the way for hostess maker of ding dong and ho hoes to dole out bonus to the top executives. judge robert drain made the point that these executives did not run the company into bankruptcy but should be rewarded if they do a good job winding down the business they went into bankruptcy after cutting into pension plans and the bakers union refused to take a pay cut. well be watching whomever ultimately biez ...