October 1, 2019 / 12:29 AM / 17 days ago

Purdue and U.S. trustee tangle over compensation motion

Purdue Pharma LP on Monday defended its motion seeking an order to pay up to $38 million in bonuses and severances after the U.S. government’s bankruptcy watchdog on Friday urged the motion be denied in light of the widespread litigation that pushed the maker of Oxycontin to seek Chapter 11 protection.

Purdue’s motion “provides only the vaguest description” of the company’s bonus and severance plans and little or no information on who would be eligible for them and whether they had been involved in the company’s misconduct, according to the trustee.

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