Purdue, Sacklers Seek Appeal of Ruling Vacating Bankruptcy Plan

Purdue Pharma LP and its owners is seeking to appeal a decision overturning the OxyContin manufacturer’s multi-billion dollar bankruptcy plan.

The company and the Sackler family members asked on Dec. 30 and Dec. 31 respectively for U.S. District Judge Colleen McMahon to certify their interim appeal to the U.S. Court of Appeals for the Second Circuit.

Their appeal request signals a next phase in a fight over whether the bankruptcy court had the power to approve nonconsensual liability releases for the Sackler family that the massive Chapter 11 plan contained.

McMahon vacated Purdue’s Chapter 11 plan on Dec. 16, ruling ...