Civil Litigation,
Bankruptcy
Jan. 4, 2022
Court unravels Purdue bankruptcy plan protecting Sacklers
In a recent appellate decision vacating Purdue Pharma’s confirmed chapter 11 bankruptcy plan of reorganization, the U.S. District Court for the Southern District of New York addressed an issue that “has hovered over bankruptcy law for thirty-five years.”
David S. Kupetz
Shareholder
SulmeyerKupetz PC
333 S Grand Avenue, Suite 3400
Los Angeles , CA 90071-1406
Fax: (213) 629-4520
Email: dkupetz@sulmeyerlaw.com
UC Hastings College of the Law
David is an expert in bankruptcy, business reorganization, restructuring, assignments for the benefit of creditors, and other insolvency solutions.
Victor A. Sahn
Partner
SulmeyerKupetz PC
Email: vsahn@sulmeyerlaw.com
Victor specializes in representing Chapter 11 debtors and creditors' committees, as well as secured creditors, equity committees and individual unsecured creditors in bankruptcy cases. He has frequently worked with asset purchasers in Chapter 11 and Chapter 7 cases as well as plan proponents in Chapter 11 cases.
In a recent appellate decision vacating Purdue Pharma's confirmed chapter 11 bankruptcy plan of reorganization, the U.S. District Court for the Southern District of New York addressed an issue that "has hovered over bankruptcy law for thirty-five years." In re Purdue Pharma, L.P., 2021 U.S. Dist. LEXIS 242236 (S.D.N.Y. December 16, 2021). The court identified the "great unsettled question" as whether a bankruptcy court (or any other court) ...
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