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
Date Written: November 5, 2019
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: Suggested Citation