Purdue Pharma to Stay in Business as Bankruptcy Unfolds
|09/18/2019||Posted by BusinessMediaguide.Com under General World News||
A judge cleared the way Tuesday for OxyContin maker Purdue Pharma to stay in business while it pursues bankruptcy protection and settlement of more than 2,600 lawsuits filed against it in a reckoning over the opioid crisis.
At the first court hearing since the Chapter 11 filing late Sunday, Purdue lawyers secured permission for the multibillion-dollar company based in Stamford, Connecticut, to maintain business as usual — paying employees and vendors, supplying pills to distributors, and keeping current on taxes and insurance.
The continued viability of Purdue is a key component of the company’s settlement offer, which could be worth up to read more >>>