Kleinberg Kaplan Representation of Objecting States in the Purdue Pharma Case Featured in New York Law Journal
Firm News | July 22, 2021 | Creditors’ Rights and Bankruptcy Litigation
Kleinberg Kaplan attorneys were featured in the New York Law Journal following the filing of an objection to the chapter 11 plan proposed by Purdue Pharma, a privately held pharmaceutical company that was owned mainly by members of the Sackler family. The plan would grant to the Sacklers blanket lifetime immunity related to any civil suits.
In representing the State of Washington and the State of Oregon, Kleinberg Kaplan prepared and filed an objection that will be considered by U.S. Bankruptcy Judge Robert D. Drain of the Southern District of New York along with the proposed reorganization plan on August 9. As mentioned in the filing, “The Debtors’ proposed chapter 11 plan grossly perverts public policy. It rewards the Sacklers by allowing them to walk away as billionaires with a legal shield for life.”
Key team members include Bankruptcy partner Matthew Gold and associate Robert Tuchman. Kleinberg Kaplan’s Creditors’ Rights and Bankruptcy Litigation practice offers clients an aggressive approach to bankruptcy and insolvency issues. The firm has provided representation to individual and institutional debtors, creditors and investors of every type in bankruptcy litigation, adversary proceedings and contested matters in chapter 11, chapter 7 and chapter 15 cases, such as avoidance actions, adequate protection disputes, confirmation battles and claim disputes.