bankruptcy News

Boy Scouts Fall Short in Support For $2.7B Abuse Settlement

The Boy Scouts of America fell short of winning the support it sought from sex-abuse victims for a nearly $2.7 billion settlement that could bring the organization out of bankruptcy, according to court papers. The proposed settlement of more than …

Judge Orders Mediation for Purdue, Sacklers Over Opioid Settlement

A U.S. judge on Monday ordered mediation in the Purdue Pharma bankruptcy, calling for the company, the Sackler family members that own it and nine states to determine whether they can reach a new opioid litigation settlement by Jan. 14. …

Purdue Bankruptcy Judge Extends Temporary Litigation Shield For Sacklers

A bankruptcy judge has extended temporary protections against opioid-related litigation for the Sackler family members who own Purdue Pharma until Feb. 1 after another judge overturned the OxyContin maker’s bankruptcy settlement this month. U.S. Bankruptcy Judge Robert Drain in White …

Archdiocese of Santa Fe’s Bankruptcy Case Plods Along

SANTA FE, N.M. (AP–The Archdiocese of Santa Fe’s Chapter 11 bankruptcy efforts have plodded along for three years with no end visible in the case involving more than 400 clergy abuse victims. Lawyers say three years is a comparatively long …

Contractor Missed Deadline to File Lawsuit For Repairs to Storm-Damaged Church

A bankruptcy filing did not stop the clock from running on North Carolina’s three-year statutory deadline for filing a lawsuit seeking insurance coverage, a panel of the 4th Circuit Court of Appeals ruled Wednesday. The appellate court affirmed a decision …

US Supreme Court Snubs J&J’s Bid to Avoid Mississippi Talc Lawsuit

WASHINGTON — The U.S. Supreme Court on Monday declined to hear a bid by Johnson & Johnson to throw out a lawsuit brought by the state of Mississippi over allegations that the company failed to inform residents that its talc-based …

Mediator Ousted in Boy Scouts Bankruptcy; Deadline Extended

DOVER, Del. (AP) –The judge presiding over the Boy Scouts of America bankruptcy issued a ruling Tuesday removing a former Delaware bankruptcy judge as a mediator, saying a court filing by the Boy Scouts raised questions about his impartiality. Judge …

Sackler Family Says Billions Collected From Purdue Not Abuse Of Bankruptcy Law

Members of the Sackler family on Monday said billions of dollars they collected from Purdue Pharma before the company filed for Chapter 11 was the result of extra cash, not part of a “secret plan” to abuse the bankruptcy system. …

Luckin Coffee Agrees to Settle Accounting Fraud Claims For $175M

NEW YORK — Luckin Coffee Inc reached a $175 million settlement of shareholder class-action claims that the Chinese rival to Starbucks fraudulently inflated its share price by falsifying revenue. Lawyers for the shareholders called the all-cash settlement, filed on Monday …

J&J Seeks Victory in Fight With Baby Powder Cancer Victims

Johnson & Johnson could start collecting on its new legal strategy for dealing with baby-powder cancer claims as early as Wednesday as it seeks to win an initial courtroom showdown with 35,000 people who claim they were hurt by the …