Purdue Pharma and owners to pay $7.4 billion in settlement of lawsuits over the toll of OxyContin -
On Thursday, Purdue Pharma and members of the Sackler family who own the company agreed to pay up to $7.4 billion to...more
1/27/2025
/ Bankruptcy Court ,
Commercial Bankruptcy ,
Consent ,
Corporate Governance ,
Corporate Misconduct ,
Creditors ,
Debtors ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FDIC ,
Fiduciary Duty ,
Gross Negligence ,
Opioid ,
Settlement
Spirit Airlines continues 'constructive talks' with creditors | Reuters -
On Tuesday, ultra-low-cost carrier Spirit Airlines announced it’s in constructive talks with its creditors and will continue to seek strategic...more
Purdue Pharma secures litigation ceasefire after US Supreme Court ruling | Reuters -
On Tuesday, U.S. Bankruptcy Judge Sean Lane granted Purdue Pharma court approval for a 60-day freeze on lawsuits against the Sackler...more
Supreme Court Blocks Purdue Pharma Opioid Settlement, Threatening Billions Of Dollars For Victims | NBC News -
On Thursday, the Supreme Court rejected the nonconsensual non-debtor releases in the Purdue Pharma plan,...more
US Supreme Court torn over Purdue bankruptcy suit| Reuters -
On Monday, U.S. Supreme Court justices grappled with whether to affirm OxyContin producer Purdue Pharma’s bankruptcy plan.
S&K Take: Really couldn’t lead...more
Endo creditors seek to resolve U.S. government claims for $465 mln| Reuters -
According to court documents filed last week, Endo and a group of the company’s lenders are offering up to $465 million to settle U.S. government...more
12/4/2023
/ Bitcoin Mining ,
Blockchain ,
Bondholders ,
Catholic Diocese ,
Creditors ,
Dismissals ,
Involuntary Bankruptcy ,
Lenders ,
Opioid ,
Restructuring ,
Settlement ,
Sexual Abuse
Rite Aid files for bankruptcy| CNN -
Last week, pharmacy chain Rite Aid notified the U.S. Securities and Exchange Commission (SEC) stating that it was considering bankruptcy. On Sunday, it filed for Chapter 11 bankruptcy...more
Bankruptcy court refuses to dismiss marijuana industry debtor Chapter 11 case| Reuters -
The U.S. Bankruptcy Court for the Central District of California has refused a motion to dismiss the Chapter 11 Bankruptcy case for...more
10/16/2023
/ Attorney's Fees ,
Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Controlled Substances Act ,
Cryptocurrency ,
Marijuana Related Businesses ,
Mediation ,
Opioid ,
Restructuring ,
Settlement
Rite Aid, bracing for bankruptcy, will close hundreds of stores | SuperMarket News -
As it prepares to file for bankruptcy, Rite Aid is gearing up to close as many as 500 of its 2,100 stores. The Philadelphia-based...more
Mallinckrodt's opioid creditors support fast-track second bankruptcy | Reuters -
Drugmaker Mallinckrodt, who previously emerged from its initial Chapter 11 in June 2022, filed for its second bankruptcy this week. The...more
Below is our initial take on recent bankruptcy-related developments: This week Mallinckrodt said that they expect to file for their second bankruptcy in the coming days after coming to an agreement with its creditors to...more
Endo Files for Bankruptcy as U.S. Opioid Litigation Drags | Reuters -
Endo International Plc filed for bankruptcy this week, becoming the latest pharmaceutical company to file in the wake of opioid lawsuits. Endo reached a...more
Revlon Shareholders Seek Official Representation in Bankruptcy Case | Reuters -
A group of Revlon shareholders asked a bankruptcy judge to appoint an official committee to represent them, as the group feels that their...more