Purdue Pharma Opposes Justice Department Bid for Immediate Appellate Review
By Jonathan Randles
OxyContin maker Purdue Pharma LP is opposing a bid by the
Justice Department's bankruptcy unit and a handful of state
attorneys general for immediate appellate court review of its $4.5
billion settlement with members of the Sackler family who own the
Purdue said in a filing Wednesday in the U.S. Bankruptcy Court
in White Plains, N.Y. that government authorities seek to
"short-circuit" the normal bankruptcy appeals process, which
normally starts with a review by a federal district judge.
The Justice Department and states seeking to overturn the
settlement and Purdue's broader restructuring plan have said they
want an immediate review of the deal by the Second U.S. Circuit
Court of Appeals.
Purdue said Tuesday the Second Circuit has never immediately
reviewed an order confirming a bankruptcy plan. Last month, U.S.
Bankruptcy Judge Robert Drain approved the settlement which will
shield members of the Sackler family from civil opioid
Write to Jonathan Randles at email@example.com
(END) Dow Jones Newswires
October 13, 2021 12:58 ET (16:58 GMT)
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