News & Analysis as of

Debtors Opioid Bankruptcy Court

Seward & Kissel LLP

Sack Exchange Part II, Age of Consent and FDIC You Later

Seward & Kissel LLP on

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

Offit Kurman

2024: Year in Review: Third-Party Releases After Purdue Pharma

Offit Kurman on

The most notable decision in the bankruptcy world in 2024 was the Supreme Court’s decision in Purdue Pharma. Harrington v. Purdue Pharma, L.P., 144 S. Ct. 2071 (2024). At the heart of the fight in Purdue Pharma were...more

Fox Rothschild LLP

The Impact of Purdue Pharma

Fox Rothschild LLP on

It has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies around the country. In September...more

Ward and Smith, P.A.

Should I Care About the Purdue Pharma Decision?

Ward and Smith, P.A. on

On June 27, 2024, the United States Supreme Court decided the Purdue Pharma appeal. In a five-to-four decision, the Supreme Court held that a bankruptcy court may not extend to non-debtors the benefits of a Chapter 11...more

Vinson & Elkins LLP

In re Mallinckrodt PLC.: Delaware Bankruptcy Court Approves Non-Consensual Third-Party Releases in Contrast to Purdue and Ascena

Vinson & Elkins LLP on

On February 3, 2022, as part of a series of recent decisions addressing third-party releases, Bankruptcy Judge John T. Dorsey of the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) confirmed the chapter...more

Morgan Lewis

What a Difference a Few Days Make

Morgan Lewis on

Not so long ago US Bankruptcy Judge Robert Drain of the Southern District of New York had his time in the barrel—pilloried in the media for approving releases to members of the Sackler family as part of a bankruptcy plan that...more

Vinson & Elkins LLP

In re Purdue Pharma L.P.: S.D.N.Y. Holds Bankruptcy Court Lacks Statutory Authority to Approve Sackler Family Releases

Vinson & Elkins LLP on

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 11 plan of Purdue Pharma L.P. (“Purdue”)...more

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