The Supreme Court on Thursday temporarily blocked Purdue Pharma's plan to emerge from bankruptcy that shielded the Sackler families from liability in the opioid epidemic
The application for a stay, brought by the U.S. Department of Justice, was presented to Justice Sonia Sotomayor and referred by her to the wider court, which agreed to hear argument on whether the nation's bankruptcy laws allow a court to approve, as part of a, a release from litigation for third parties who are not themselves filing for bankruptcy.
A federal judge in New York initially blocked the reorganization, however, ruling that bankruptcy laws do not allow liability shields to be given to parties that aren't actually filing for bankruptcy. In a statement, Purdue Pharma said: "We are confident in the legality of our nearly universally supported Plan of Reorganization, and optimistic that the Supreme Court will agree. Even so, we are disappointed that the U.S.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
US Supreme Court to scrutinize Purdue Pharma bankruptcy settlementThe U.S. Supreme Court on Thursday agreed to hear a challenge by President Joe Biden's administration to the legality of OxyContin maker Purdue Pharma's bankruptcy settlement that would shield its wealthy Sackler family owners from lawsuits over their role in the country's opioid epidemic.
Les mer »
Supreme Court blocks $6B Purdue Pharma dealThe case arose after the reorganization in bankruptcy of OxyContin manufacturer Purdue Pharma – stemming from litigation arising from claims over its role in fueling the opioid addiction crisis.
Les mer »
Supreme Court blocks $6B Purdue Pharma opioid settlement, will hear case this fallSCOTUS has blocked Purdue Pharma from going forward with bankruptcy proceedings, which the Biden administration has called an 'unprecedented' arrangement that would ultimately offer the Sackler family broad protection from opioid-related civil claims.
Les mer »
Supreme Court halts $6 billion Purdue Pharma bankruptcy agreementThe Supreme Court on Thursday blocked Purdue Pharma from moving forward with bankruptcy proceedings in a win for the Biden administration, which has challenged the $6 billion settlement involving the company for allegedly providing 'unprecedented' protection from future civil suits.
Les mer »
Supreme Court temporarily blocks Purdue Pharma settlement that would shield Sackler familyThe Supreme Court has blocked a nationwide settlement with OxyContin maker Purdue Pharma that would shield members of the Sackler family who own the company from civil lawsuits over the toll of opioids.
Les mer »