Purdue Pharma Gets Creditor Support for $7.4b Chapter 11 Deal

Purdue Pharma’s Chapter 11 reorganization plan received support from more than 99% of voting creditors, based on preliminary voting results.

• Plan settles all civil claims against Purdue, as well as Purdue’s civil claims against the Sacklers
• Assuming full creditor participation, plan to deliver about $7.4b in cash to creditors, with a potential to increase of up to $500m based on the sale proceeds of the Sacklers’ international pharmaceutical businesses
  • Of the total cash recovery, the Sacklers will contribute up to $6.5b, beginning with a $1.5b payment on the plan’s effective date
• NOTE: Purdue’s $7.4 Billion Opioid Bankruptcy Deal on Track ...