Supreme Court Decision on Purdue Case Raises Barriers for Settling Mass Torts in Bankruptcy
Washington – A recent U.S. Supreme Court decision has significantly influenced the landscape of bankruptcy law, particularly affecting how mass torts, such as widespread injury claims against companies, can be resolved when the accused entities file for bankruptcy. Central to this decision was the case involving Purdue Pharma, the maker of OxyContin, which has been at the heart of numerous lawsuits due to allegations of fueling the opioid crisis in America. The court’s ruling has curtailed a common legal strategy often employed by companies in bankruptcy: settling mass tort litigation through bankruptcy protection plans that … Read more