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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.