By Jonathan Randles


OxyContin maker Purdue Pharma LP is opposing a bid by the Justice Department's bankruptcy unit and a handful of state attorneys general for immediate appellate court review of its $4.5 billion settlement with members of the Sackler family who own the company.

Purdue said in a filing Wednesday in the U.S. Bankruptcy Court in White Plains, N.Y. that government authorities seek to "short-circuit" the normal bankruptcy appeals process, which normally starts with a review by a federal district judge.

The Justice Department and states seeking to overturn the settlement and Purdue's broader restructuring plan have said they want an immediate review of the deal by the Second U.S. Circuit Court of Appeals.

Purdue said Tuesday the Second Circuit has never immediately reviewed an order confirming a bankruptcy plan. Last month, U.S. Bankruptcy Judge Robert Drain approved the settlement which will shield members of the Sackler family from civil opioid lawsuits.


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(END) Dow Jones Newswires

October 13, 2021 12:58 ET (16:58 GMT)

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