Chief U.S. District Judge Colleen McMahon of the Southern District of New York (Photo by David Handschuh/NYLJ) Manhattan Federal Judge Rejects $4.3B Purdue Pharma Bankruptcy Deal
The ruling approving the settlement from the U.S. Bankruptcy Court was appealed by the U.S. Department of Justice and eight states, among others.
December 16, 2021 at 10:41 PM
3 minute read
Bankruptcy
U.S. District Judge Colleen McMahon of the Southern District of New York on Thursday vacated Purdue Pharma's $4.3 billion bankruptcy settlement, finding that its controversial inclusion of a liability release for the Sackler family was not authorized by the U.S. Bankruptcy Code.
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