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Purdue Pharma judge tentatively OKs $16 million in employee retention payments


Hearing on bonuses for top executives postponed
Judge seeks due diligence on employees eligible for payments
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(Reuters) - The judge overseeing Purdue Pharma’s Chapter 11 case has tentatively approved $16.1 million in retention payments for 506 of the company s employees but conditioned his ruling on the OxyContin maker’s successful reorganization.
During a virtual hearing, U.S. Bankruptcy Judge Robert Drain in White Plains, New York, said he would sign off on the payments – which he said are not the same as bonuses because they are part of the employees’ annual compensation – as long as Purdue doesn’t wind up liquidating in bankruptcy, which at this point in the case is ....

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District Judge to Purdue: "You Don't Get to Choose Your Judge"

District Judge to Purdue: "You Don't Get to Choose Your Judge"
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Sackler Family Empire Poised To Win Immunity From Opioid Lawsuits


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.
Public health experts and many government officials say the introduction of OxyContin fueled the nation s deadly opioid epidemic. ....

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