Purdue Pharma L.P.

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Case overview

Case Number:

7:19-bk-23649

Court:

New York Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

January 23, 2025
15 States Reach $7.4B Settlement With Sackler Family

A bipartisan coalition of states on Thursday announced a $7.4 billion settlement in principle with the Sackler family and their company Purdue Pharma Inc., representing the largest settlement to date with the family accused of contributing significantly to the opioid epidemic.
January 21, 2025
Last Sackler Family Members Join Purdue Draft Deal

The final holdouts among two branches of Sackler family members are ready to join a settlement in the bankruptcy of聽OxyContin maker Purdue Pharma LP, a business owned by the family, according to a report from the co-mediators handling negotiations.
January 13, 2025
Purdue Pharma Inks Draft Deal, Seeks Mediation Extension

OxyContin maker Purdue Pharma LP has inked a 50-page term sheet and 75-page draft master settlement agreement that could resolve its more than 5-year-old bankruptcy case after its last plan was tossed out, it said in a New York court filing.
January 02, 2025
Bankruptcy News You May Have Missed Over The Holiday

The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with mattress seller Serta Simmons, reversing a bankruptcy court's ruling in a closely watched case on liability management transactions; Purdue Pharma secured a one-month extension as its creditors and members of the Sackler family try to reach a settlement in mediation; and retail chain Big Lots reached an eleventh-hour deal to sell some of its stores and thwart a total liquidation.
December 17, 2024
Purdue, FTX Top Biggest Bankruptcy Cases, Trends Of 2024

The U.S. Supreme Court's decision to throw out nonconsensual third-party releases in opioid maker Purdue Pharma's Chapter 11 reverberated through the bankruptcy domain in unexpected ways this year, but it was just one among many major events to shape bankruptcy in 2024.
November 26, 2024
Purdue Wins Shortened Extension Of Ch. 11 Deal Talks

A New York bankruptcy judge on Tuesday granted Purdue Pharma LP more time to negotiate聽a new settlement with certain members of the Sackler family who own the bankrupt OxyContin maker, as mediators say they have ironed out a term sheet and are getting ever closer to finalizing a deal.
November 25, 2024
Alex Jones Blasts Onion Bid, FTX Tech Deputy Avoids Prison

Alex Jones and a backup bidder linked to his Chapter 7 are challenging the sale of his Infowars website to The Onion, alleging flaws in the auction process. A former FTX's tech deputy can avoid prison time for assisting the FTX fraud case by exposing programming flaws; attorneys who have represented Purdue Pharma can receive $21.2 million in fees for its work during summer. This is the week in bankruptcy.
November 20, 2024
Lawyers In Purdue Bankruptcy Get OK For Millions In Fees

More than 150 lawyers, investment bankers and financial advisers representing the creditors committee of bankrupt OxyContin maker Purdue Pharma LP聽billed $21.2 million as the high-stakes case reignited this summer, according to a Law360 tally of interim fee applications.
November 14, 2024
Maryland Seeks To Undo Litigation Pause In Purdue Appeal

The state of Maryland argued in New York federal court Thursday that it should be allowed to pursue claims against the Sackler family members who own bankrupt OxyContin maker Purdue Pharma LP, and that a temporary injunction currently blocking a flood of litigation should be thrown out.
November 13, 2024
Purdue, Sacklers Agree To Terms As New Ch. 11 Deal Nears

Purdue Pharma LP has agreed to some terms for a new settlement with certain members of the Sackler family, including key provisions governing the scope of liability releases and how much money the family will contribute to pay victims of the opioid crisis who are claimants in the OxyContin maker's bankruptcy case, according to an update provided by co-mediators.

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