Bankruptcy Trustee Objects To ‘Broad’ Release Of Claims Against Purdue Pharma Kin

Mealey's (August 24, 2021, 1:49 PM EDT) -- WHITE PLAINS, N.Y. — A New York federal bankruptcy trustee on Aug. 23 filed a supplemental objection to the eighth amended joint bankruptcy reorganization plan for opioid maker Purdue Pharma LP, saying the new, last-minute plan gives an “extraordinarily broad” release of claims against the controlling Sackler family and that the payment of $500 million in attorney fees would take place without court oversight and approval or the opportunity to object as required by the U.S. Bankruptcy Code....