Breaking Down the Latest Decision in the Purdue Pharma Case
The Supreme Court’s landmark 2024 Purdue Pharma decision altered the landscape for bankruptcy releases and, in the process, put the resolutions of several other pending mass tort chapter 11 cases in question. A recent...more
In Harrington v. Purdue Pharma L.P., the Supreme Court held that the Bankruptcy Code does not authorize a bankruptcy court to grant a release and injunction that extinguishes direct claims against nondebtor third parties...more
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
US court reluctant to blow up Boy Scouts’ $2.46 billion sex abuse settlement | Reuters - On Wednesday, a three-judge panel of the Third Circuit Court of Appeals in Philadelphia considered whether to overturn the Boy Scouts...more
J&J talc opponents decry bankruptcy as "deja vu all over again" | Reuters - Johnson & Johnson's latest bankruptcy attempt faced immediate opposition from cancer victims' attorneys. They argued that the bankruptcy was a...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
Genetic test maker Invitae files for bankruptcy protection in US | Reuters - On Tuesday, Invitae, the San Francisco-based genetic test maker, filed for voluntary Chapter 11 bankruptcy protection in a U.S. bankruptcy court...more
Just as attorneys generals for more than a dozen states inch toward a multibillion-dollar settlement with a drug maker faulted for its big role in the start of the opioid abuse and drug overdose crisis, that health menace is...more
Top Tidjane Thiam ally Pierre-Olivier Bouee, Credit Suisse’s COO, has resigned in the wake of an internal probe finding that he “ordered the surveillance of the bank’s former wealth-management chief, Iqbal Khan, without...more