The US Supreme court recently agreed to stay the Purdue Pharma bankruptcy plan and review whether its “third-party release” are permissible under the bankruptcy code. LSTA’s Elliot Ganz explains what just happened and its implications for corporate bankruptcies and the loan market.
Purdue Pharma, the bankruptcy drug manufacturer at the center of the opioid crisis, entered into a controversial settlement of its civil and criminal liability for opioid harms with the Department of Justice....
