Purdue Pharma Bankruptcy Judge Delays Ruling on $1.3M CEO Bonus

Judge Robert Drain approves a slate of wage and bonus payments for Purdue Pharma LP employees but puts off ruling on a $1.3 million payment for Chief Executive Officer Craig Landau, encouraging the company to walk through the details of his compensation package with a group of states opposing it.

• “I’m always uncomfortable, and I think all bankruptcy judges are, with getting into the details of people’s compensation,” Drain says in hearing
• Landau’s bonus is part of a larger, longstanding bonus pool program in place at Purdue and has already been slashed by 50% following negotiations with a group ...