Purdue Pharma’s Unsecured Creditors Ask For Permission To Sue Sackler Family

(July 9, 2024, 1:26 PM EDT) -- NEW YORK — The Official Committee of Unsecured Creditors on July 8 asked the New York federal bankruptcy judge overseeing Purdue Pharma LP’s bankruptcy case to grant it sole derivative standing so it can sue Purdue Pharma’s owners — members of the Sackler family and their trusts and affiliates — after the U.S. Supreme Court ruled that the Second Circuit U.S. Court of Appeals erred in finding that the U.S. Bankruptcy Code allows a liability release for members of the family in a multibillion-dollar opioid bankruptcy settlement reached by Purdue Pharma....