July 8, 2024
Does the Supreme Court’s Decision on the Purdue Bankruptcy Signal an End to Mass Tort Bankruptcies?
Drug & Device Law
Litigation attorney Eric Alexander authored a Drug & Device Law blog about the U.S. Supreme Court's decision in Harrington v. Purdue Pharma L.P., which addressed the powers of a bankruptcy court in relation to opioid litigation liabilities. The majority opinion focused on the term "victim" when referring to opioid litigation plaintiffs and potential creditors of Purdue, while the dissent discussed the common practice of using non-debtor releases in mass tort bankruptcies. Mr. Alexander suggests that the decision may not significantly impact the ability of a logical corporate defendant to seek bankruptcy protection for itself, but it could require additional work to protect individuals and entities not covered by the debtor's plan, such as owners, directors and officers, from potential liability.
READ: Does the Supreme Court’s Decision on the Purdue Bankruptcy Signal an End to Mass Tort Bankruptcies?
READ: Does the Supreme Court’s Decision on the Purdue Bankruptcy Signal an End to Mass Tort Bankruptcies?