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Purdue Pharma judge tentatively OKs $16 million in employee retention payments

Hearing on bonuses for top executives postponed
Judge seeks due diligence on employees eligible for payments
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(Reuters) - The judge overseeing Purdue Pharmaâs Chapter 11 case has tentatively approved $16.1 million in retention payments for 506 of the company s employees but conditioned his ruling on the OxyContin makerâs successful reorganization.
During a virtual hearing, U.S. Bankruptcy Judge Robert Drain in White Plains, New York, said he would sign off on the payments â which he said are not the same as bonuses because they are part of the employeesâ annual compensation â as long as Purdue doesnât wind up liquidating in bankruptcy, which at this point in the case is ....

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Purdue Pharma bankruptcy judge OKs examiner but condemns Sackler-related attacks

Purdue Pharma bankruptcy judge OKs examiner but condemns Sackler-related attacks
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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Purdue bankruptcy judge OKs law firms' deal giving up $1m in fees

The judge overseeing Purdue Pharma’s bankruptcy approved a deal on Thursday under which three law firms will forfeit a combined $1 million in fees to resolve allegations that they failed to disclose connections to Sackler family members that own the company. ....

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BHP and Vale's Samarco hit with almost $ 1 billion suit

BHP and Vale’s Samarco hit with nearly $ 1 billion suit
The collapse of the Fundao tailings dam in 2015 killed 19 people and polluted hundreds of miles of rivers. (
Image: Agência Brasil Fotografias.)
BHP (ASX, LON, NYSE: BHP) and Vale’s (NYSE: VALE) beleaguered Samarco joint venture in Brazil has been hit with an almost $1 billion lawsuit from noteholders who accuse the company of ignoring their requests to restructure their debt.
The claim, filed in October last year by the Bank of New York Mellon on behalf of noteholders, states the $898 million sought from Samarco is made up of the $700 million principal of the notes the plaintiff holds, eight interest payments missed totalling $161 million, and other charges. ....

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BHP and Vale's Samarco hit with $1 billion court case

BHP and Valeâs Samarco hit with $1 billion court case
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BHP and its partner Valeâs troubled Samarco joint venture in Brazil has been hit with a $1 billion-plus lawsuit from noteholders who claim their requests to restructure their debt have been largely ignored.
Bank of New York Mellon filed the claim in the Southern District of New York in December on behalf of noteholders holding $US700 million of Samarcoâs bonds.
The claim has created more headaches for Samarco which has been struggling to complete its long-awaited $US3.8 billion debt restructuring.
The collapse of the Fundao dam in 2015 killed 19 and poured roughly 40 million cubic metres of mining waste into communities. ....

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