Page 48 - Robert Drain News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Originally published on June 3, 2021 1:41 pm After more than a year of high-stakes negotiations with billions of dollars on the line, a bankruptcy plan for Purdue Pharma, the maker of OxyContin, cleared a major hurdle late Wednesday. Federal Judge Robert Drain in White Plains, N.Y., moved the controversial deal forward despite objections from dozens of state attorneys general, setting the stage for a final vote by the company's creditors expected this summer. The drugmaker filed for Chapter 11 protection in 2019 facing an avalanche of lawsuits tied to its aggressive opioid sales practices. P...

A controversial bankruptcy plan involving Purdue Pharma, which would shield the Sackler family from litigation tied to the opioid crisis, has moved forward.

A controversial bankruptcy plan involving Purdue Pharma, which would shield the Sackler family from litigation tied to the opioid crisis, has moved forward.

Pureradiancephoto/iStock (NEW YORK) — A controversial bankruptcy plan involving OxyContin maker Purdue Pharma, which would shield the Sackler family from litigation tied to the opioid crisis, moved forward Thursday. A federal bankruptcy court judge in White Plains, New York, allowed Purdue to begin soliciting support for its Chapter 11 reorganization plan, which would dissolve the drug company and reestablish it as a public trust. Over 600,000 claimants will now start to receive ballots regarding the plan. Purdue filed for Chapter 11 protection in 2019 as it faced thousands of lawsuits acro...

With voting set to start soon on OxyContin maker Purdue Pharma’s settlement plan,...