Page 3 - Robertd Drain News Today

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.

In a somewhat unexpected development given his recent appointment to a second 14-year term a mere 5 years ago, Bankruptcy Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York...

Darren McCollester / Getty Images Originally published on July 8, 2021 1:41 am Fifteen states that led the effort to block a controversial bankruptcy plan for Oxycontin-maker Purdue Pharma have abandoned the fight. Thats according to court documents filed by a mediator late Wednesday night as part of a federal bankruptcy proceeding in White Plains NY. Among the states that have agreed to sign on to the bankruptcy deal are Massachusetts and New York, whose attorneys general had mounted fi...

Darren McCollester/Getty Images toggle caption Darren McCollester/Getty Images Purdue Pharma faced an avalanche of lawsuits for alleged harm caused by its prescription opioid medicine OxyContin. A controversial bankruptcy deal expected to be finalized next month would block lawsuits against members of the Sackler family who own the firm. Darren McCollester/Getty Images Fifteen states that led the effort to block a controversial bankruptcy plan for OxyCont...

CHARLESTON – A New York bankruptcy court order is allowing more than 270 additional claims to be filed on behalf of West Virginia children suffering from Neonatal Abstinence Syndrome. Last month, federal bankruptcy Judge Robert D. Drain issued an order in U.S. Bankruptcy Court for the Southern District of New York in Purdue Pharma’s bankruptcy case that allows the filing of 272 NAS claimant proofs of claim. ““It is now clear that many, many families did not receive notice of the Purdue ...

As part of the plan, members of the billionaire Sackler family pledged to contribute roughly $4.3 billion of their personal fortune — $1.5 billion more than previously promised.

In a bid to resolve thousands of lawsuits stemming from the opioid epidemic, members of the Sackler family pledged to contribute $1.5 billion more than previously promised, roughly $4.3 billion paid out over nine years from their personal fortune.

The Globe and Mail Jan Hoffman and Mary Williams Walsh The New York Times Bookmark In a filing that signifies the beginning of the end of the United States’ most notorious manufacturer of prescription opioids, Purdue Pharma submitted its bankruptcy restructuring plan just before midnight Monday. The blueprint requires members of the billionaire Sackler family to relinquish control of the company and transforms it into a new corporation with revenue directed exclusively toward abating t...