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Bloomberg Law Quote H. Shkolnik on Purdue Pharma

October 23, 2020

Source: Bloomberg Law

Purdue Pharma is poised to wrap up all liability for its role in the opioid crisis in a matter of weeks after its $8.3 billion settlement with the Justice Department cleared the way to resolve outstanding bankruptcy claims.

“This clears the way for a Purdue bankruptcy plan to be finalized and to be put forward for a vote of creditors,” said Hunter Shkolnik, a partner with Napoli Shkolnik, who is representing hundreds of local governments in the bankruptcy proceedings.

“There isn’t more money because there isn’t more money in Purdue” beyond the $10 billion on the table, he added.

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