Various creditor constituencies in the Purdue Pharma bankruptcy case have requested access to financial information concerning foreign affiliates controlled by the Sackler family, reports the Wall Street Journal. The creditors contend that this information is critical in determining the creditors’ response to the current multi-billion dollar settlement offer being made by the Sackler family in connection with Purdue Pharma’s bankruptcy case. [WSJ; July 2, 2020] NPC International, a nationwide franchisee of fast food restaurants…

Mayer Brown Partners Matthew O’Meara and Sean Scott discussed the impact of the recent news that a New York state court judge denied a preliminary injunction request filed in the Supreme Court of New York by a group of dissenting first-lien lenders, seeking to prevent a borrower, Serta Simmons, and certain first-lien consenting lenders from entering into a recapitalization transaction in an article available here.…

Mayer Brown partners Brian Trust, Sean Scott, and Aaron Gavant and associate Kyle Tum Suden discussed the evolving case law surrounding whether companies in bankruptcy are eligible to pursue funding pursuant to the SBA’s Paycheck Protection Program in an article available here. For a further discussion of this issue, see prior articles for Mayer Brown’s COVID-19 response blog available here and here.…