Letter of Bankruptcy Law Professors to United States Trustee Requesting an Examiner in the Purdue Pharma Chapter 11 Reorganization

12 Pages Posted: 2 Sep 2020

See all articles by Jonathan C. Lipson

Jonathan C. Lipson

Temple University - James E. Beasley School of Law

Date Written: November 5, 2019

Abstract

This letter sets forth the arguments of over 20 professors of bankruptcy law as to why an independent examiner should be appointed to investigate Purdue Pharma and its ultimate owners, the Sackler family. Section 1104(c) of the Bankruptcy Code provides in pertinent part that the bankruptcy court "shall order the appointment of an examiner . . . if such appointment is in the interests of creditors . . . and other interests of the estate." Here, we argue that the Purdue Pharma case presents unique challenges to the chapter 11 system which an examiner can address more effectively and efficiently than other available mechanisms.

Keywords: Opioid Crisis, Purdue Pharma, Sackler Family, OxyContin, Chapter 11, Bankruptcy, Examiners, Non-Debtor Releases, Mass Tort Litigation

JEL Classification: k22

Suggested Citation

Lipson, Jonathan C., Letter of Bankruptcy Law Professors to United States Trustee Requesting an Examiner in the Purdue Pharma Chapter 11 Reorganization (November 5, 2019). Temple University Legal Studies Research Paper Forthcoming, Available at SSRN: https://ssrn.com/abstract=3532642 or http://dx.doi.org/10.2139/ssrn.3532642

Jonathan C. Lipson (Contact Author)

Temple University - James E. Beasley School of Law ( email )

1719 N. Broad Street
Philadelphia, PA 19122
United States

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