Corporate bankruptcy

FILE - This Feb. 19, 2013, file photo shows OxyContin pills arranged for a photo at a pharmacy in Montpelier, Vt. Purdue Pharma, the company which makes OxyContin and other drugs, filed court papers in New York on Sunday, Sept. 15, 2019, seeking Chapter 11 bankruptcy protection. (AP Photo/Toby Talbot, File)
September 16, 2019 - 5:11 pm
BOSTON (AP) — OxyContin maker Purdue Pharma has embarked on a multibillion-dollar plan to settle thousands of lawsuits over the nation's deadly opioid crisis by transforming itself in bankruptcy court into a sort of hybrid between a business and a charity. Whether the company can pull it off...
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FILE - In this April 2, 2018, file photo, a pharmacist in San Francisco poses for photos holding a bottle of OxyContin. In court papers filed in New York on Sunday, Sept. 15, 2019, Purdue Pharma, the drug's manufacturer, flied for Chapter 11 bankruptcy protection. (AP Photo/Jeff Chiu, File)
September 16, 2019 - 2:26 pm
Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy in White Plains, New York, days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids. The filing was anticipated before...
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FILE - In this Monday, Jan. 28, 2019 photo, a man holds a sign at a rally before a California Public Utilities Commission meeting in San Francisco. Pacific Gas & Electric has agreed to pay $11 billion to a group of insurance companies representing most of the claims from Northern California wildfires in 2017 and 2018 as the company tries to emerge from bankruptcy, the utility announced Friday, Sept. 13, 2019.(AP Photo/Jeff Chiu, File)
September 13, 2019 - 3:12 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric has agreed to pay $11 billion to a group of insurance companies representing claimants from deadly Northern California wildfires in 2017 and 2018 as the company tries to emerge from bankruptcy, the utility announced Friday. The utility said in a...
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FILE - This May 8, 2007, file photo shows the Purdue Pharma logo at its offices in Stamford, Conn. It’s not entirely clear what a bankruptcy filing for Purdue Pharma would mean for the wealth of the Sackler family behind the business. Depending on how various legal actions proceed, the billionaire family could be on the hook for much more than outlined in the settlement. (AP Photo/Douglas Healey, File)
September 13, 2019 - 12:05 am
Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in...
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CORRECTS STATE TO OHIO NOT PENNSYLVANIA - Medications that are are stored in the police headquarters that are and slated for destruction, are shown in a locked storage area, Wednesday, Sept. 11, 2019, in Barberton, Ohio. Attorneys representing some 2,000 local governments said Wednesday they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation's opioid crisis. (AP Photo/Keith Srakocic)
September 12, 2019 - 9:53 pm
For months, the judge overseeing national litigation over the opioids crisis urged all sides to reach a settlement that could end thousands of lawsuits filed by state and local governments. But the chaotic developments this week in the case against OxyContin maker Purdue Pharma underscore how...
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FILE - This May 8, 2007, file photo shows the Purdue Pharma logo at its offices in Stamford, Conn. It’s not entirely clear what a bankruptcy filing for Purdue Pharma would mean for the wealth of the Sackler family behind the business. Depending on how various legal actions proceed, the billionaire family could be on the hook for much more than outlined in the settlement. (AP Photo/Douglas Healey, File)
September 12, 2019 - 6:37 pm
Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in...
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CORRECTS STATE TO OHIO NOT PENNSYLVANIA - Narcotics detective Ben Hill, with the Barberton Police Department, shows two bags of medications that are are stored in their headquarters and slated for destruction, Wednesday, Sept. 11, 2019, in Barberton, Ohio. Attorneys representing some 2,000 local governments said Wednesday they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation's opioid crisis. (AP Photo/Keith Srakocic)
September 11, 2019 - 7:51 pm
HARTFORD, Conn. (AP) — A tentative settlement announced Wednesday over the role Purdue Pharma played in the nation's opioid addiction crisis falls short of the far-reaching national settlement the OxyContin maker had been seeking for months, with litigation sure to continue against the company and...
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September 09, 2019 - 11:59 am
MEMPHIS, Tenn. (AP) — Discount retail and pharmacy chain Fred's Inc. is filing for bankruptcy and closing its stores over the next two months. The Memphis, Tennessee-based company said in a statement Monday that it has filed for chapter 11 bankruptcy and has begun liquidation sales at all of its...
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FILE - In this Friday, Aug. 17, 2018, file photo, Christine Gagnon of Southington, Conn., protests with other family and friends who have lost loved ones to OxyContin and opioid overdoses at Purdue Pharma LLP headquarters in Stamford, Conn. Gagnon lost her son Michael 13 months earlier. OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation’s deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday, Sept. 7, 2019, in a message to their counterparts across the country. (AP Photo/Jessica Hill, File)
September 08, 2019 - 8:55 pm
State and local governments have sought billions of dollars from Purdue Pharma as a way to hold the company and the family that owns it accountable for the nation's opioid epidemic, a potential payout that is now clouded in uncertainty after state attorneys general said settlement talks had broken...
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FILE - In this August 2018 file photo, family and friends who have lost loved ones to OxyContin and opioid overdoses protest outside Purdue Pharma headquarters in Stamford, Conn. OxyContin maker Purdue Pharma made headlines when it reached a landmark settlement with Oklahoma over the toll the opioids crisis has taken on that state. Attempts to do the same in a major federal case in Ohio are proving more difficult. (AP Photo/Jessica Hill, File)
September 07, 2019 - 5:37 pm
CLEVELAND (AP) — OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday in a message to their counterparts across the country. The breakdown puts the first...
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