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Purdue Pharma begins Chapter 11 bankruptcy journey

NEW YORK (AP) — Purdue Pharma gets its day in court Tuesday after the OxyContin maker filed for bankruptcy and negotiated a potential multi-billion dollar settlement to resolve thousands of lawsuits. An initial hearing will be held in federal court in White Plains, New York, for the Chapter 11 bankruptcy case. Purdue filed for bankruptcy […]

Correction: Opioids Crisis-Bankruptcy-Q&A story

In a story Sept. 12 about the impact of a possible Purdue Pharma bankruptcy on the Sackler family, The Associated Press reported erroneously who founded Purdue Pharma and when. Mortimer, Raymond and Arthur Sackler purchased Purdue Frederick in 1952; they did not found Purdue Pharma that year. Raymond and Mortimer Sackler bought Arthur Sackler’s stake […]

What a Purdue Pharma bankruptcy means for the Sackler family

Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in the opioid crisis that has contributed […]

Sears hires a bankruptcy expert

If Sears wants to avoid bankruptcy, it’ll practically have to pull a rabbit out of a hat. The company thinks it found a director who can help do the trick.

Texas firm accused of Medicare fraud files for bankruptcy

RICHMOND, Va. (AP) — A blood-testing company filed for bankruptcy and says it’s cutting jobs because Medicare payments have been withheld over allegations of fraud. The Richmond Times-Dispatch reports True Health Diagnostics LLC filed for Chapter 11 bankruptcy protection this week and notified officials of impending layoffs. The letter says the suspension of all payments […]

PG&E files for bankruptcy amid wildfire lawsuits

Faced with potentially ruinous lawsuits over California’s recent wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could drive up rates for customers of the nation’s biggest utility and reduce the size of any payouts fire victims receive.

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