November 14, 2019 / 12:16 AM / a month ago

IN BRIEF: U.S. trustee pans retainer proposal for Purdue's law firms

The U.S. trustee on Wednesday objected to Purdue Pharma LP’s proposals to retain Davis Polk & Wardwell, Skadden Arps Slate Meagher & Flom and Wilmer Cutler Pickering Hale & Dorr by allowing the law firms to hold on to their retainers until the maker of Oxycontin’s bankruptcy ends.

The firms should instead draw down retainers at the first hearing on fee applications, the government’s bankruptcy watchdog said in a filing in U.S. Bankruptcy Court for the Southern District of New York.

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