Pharmaceutical Giant
Purdue Pharma Files Bankruptcy
On Sunday, September 15, 2019, Purdue Pharma L.P., the makers of OxyContin, filed for chapter 11 protection in the United States Bankruptcy Court for the Southern District of New York - White Plains Division (Case No. 19-23649). Purdue Pharma made a settlement with two dozen state attorneys general who have asserted that OxyContin is the cause of the opioid crisis in the United States. The settlement is said to provide between $10 - $12 billion dollars to fund the opioid crisis. The settlement also forces Purdue Pharma to enter into bankruptcy and reorganize as a public benefit trust meaning that any future sales of OxyContin will be used to help communities struggling with the opioid crisis.
The Sarachek Law Firm, LLP
Is a Westchester County, NY/NYC based law firm with over 30 years’ experience in corporate bankruptcy. We have knowledge of the workings of the White Plains division of the Bankruptcy Court. Our office is five minutes from the Court. We can provide timely legal assistance and service of pleadings for out of town attorneys and claimants to the Court.
Who Can We Help!
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Municipalities and states requiring local counsel.
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Vendors of Purdue Pharma.
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Claimants.
Our firm has been on the forefront of major cases, such as Madoff, Stanford International Bank, and MF Global and have recovered money for thousands of creditors. We are currently involved in Sears, Toys R Us, and many other large cases.
Call us to discuss developing the best course of action for you. Our team is committed to providing exceptional, personal attention to each client at reasonable rates.