Page 2 - Robertd Drain News Today

The United States District Court for the Southern District of New York recently upheld a bankruptcy court decision that demonstrates the…

Timing adjustments and tweaks defused the limited objections to a $33.8 million bonus package for top officers and key employees of bankrupt Purdue Pharma LP, with the plan winning approval Wednesday from a federal bankruptcy judge in the Southern District of New York.

A preliminary injunction barring the pursuit of claims against bankrupt drugmaker Purdue Pharma LP and the Sackler family will be extended for at least another month as the parties await a Second Circuit ruling on an appeal of releases included in the company's confirmed Chapter 11 plan.

It was the first time, after years of lawsuits, that the family that owns Purdue Pharma heard directly from families who had lost loved ones to addiction.

A new settlement agreement was achieved on Thursday in the Purdue Pharma Bankruptcy Litigation. The case was originally filed in the New York Southern

Purdue Pharma has asked a New York bankruptcy judge for another extension on the opioid litigation injunction that has been in place since it filed for bankruptcy, citing word that a settlement agreement is near on a modified reorganization plan and the considerable work that would follow.

A New York bankruptcy judge extended a mediation deadline Tuesday in the Chapter 11 case of Purdue Pharma after the mediator reported the parties were close to a deal that would see members of the Sackler family significantly increase their more than $4.3 billion in payments under the debtor's scuttled plan.

The appellants asserted that Judge Drain lacked the authority to circumvent each state's ability to pursue the Sacklers under their own civil consumer protection laws.

On December 16, 2021, in a significant decision, the United States District Court for the Southern District of New York (the “District Court”) vacated the order confirming the chapter...

A New York bankruptcy judge on Thursday denied a motion from parties appealing the confirmation of Purdue Pharma's Chapter 11 plan to bypass the normal appellate channels and bring their arguments directly to the Second Circuit.