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Image source: Getty Images. For many years, I was a bankruptcy lawyer. As opposed to when I practiced litigation (suing people and defending lawsuits), bankruptcy was a dream practice.
Another instance happened in 2019, when Purdue Pharma declared bankruptcy while facing a wave of lawsuits for the company's responsibilities for the opioid crisis and their distribution of ...
That lawsuit will not be able to move forward with its claims against Wellpath unless a judge grants special permission, said Charlotte bankruptcy lawyer Jim Henderson. The same goes for every ...
NEW YORK (Reuters) -A U.S. judge on Friday shot down Johnson & Johnson's second attempt to resolve tens of thousands of lawsuits over its talc products in bankruptcy, imperiling a proposed $8.9 ...
Other than their connection to a bankruptcy proceeding, adversary proceedings are largely similar to a standard lawsuit in federal district court. The suit is opened by a complaint filed with the Bankruptcy Court, and proceeds through the same stages of litigation, including discovery and trial (including jury trial in appropriate cases).
Harrington v. Purdue Pharma L.P., 603 U.S. 204 (2024), is a United States Supreme Court case regarding Chapter 11 of the Bankruptcy Code. [1] The case addressed the 2022-2023 Purdue Pharma bankruptcy settlement and whether, under Chapter 11 of the Bankruptcy Code, a release extinguishing claims held by nondebtors against nondebtor third parties, without the claimants’ consent could move forward.
Most bankruptcy attorneys predicted that this will result in increased attorneys fees and will make attorneys less likely to take on some cases. In addition, bankruptcy filings are now subject to audit in a manner similar to tax returns. Increased compliance requirements for small businesses. The new law increases the bureaucratic compliance ...
Before the bankruptcy, J&J faced costs from $3.5 billion in verdicts and settlements, including one in which 22 women were eventually awarded a judgment of more than $2 billion, according to ...
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