Judge Colleen McMahon, Chief Judge, United States District Court for the Southern District of New York, at a 2018 New York State Bar Association conference (Photo by David Handschuh/NYLJ)

U.S. District Judge Colleen McMahon of the Southern District of New York on Thursday ruled to vacate Purdue Pharma's $4.3 billion bankruptcy settlement, finding that its controversial inclusion of a liability release for the Sackler family was not authorized by the U.S. Bankruptcy Code.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Jane Wester

Jane Wester is a litigation reporter for the New York Law Journal. Email her at [email protected] or find her on Twitter @janewester.