LitOptix provided crucial support during the landmark In re: Purdue Pharma bankruptcy confirmation hearing, one of the most significant corporate restructuring cases in U.S. history. This complex proceeding, which began in 2019 when Purdue sought bankruptcy protection amid thousands of lawsuits related to the opioid crisis, involved extensive documentation, intricate financial arrangements, and numerous stakeholders.
Our team delivered comprehensive trial presentation services to Davis Polk & Wardwell LLP during the 5-day confirmation hearing in August-September 2021, where 41 witnesses testified over six days, including two full days of oral arguments. Our technology infrastructure ensured the seamless presentation of exhibits and demonstratives, facilitating clear communication of intricate legal concepts and financial arrangements to the court. The case ultimately made its way to the United States Supreme Court, which ruled in June 2024 that bankruptcy courts lack authority to approve non-consensual third-party releases.
Following the Supreme Court decision, Purdue filed a new plan of reorganization in March 2025 providing for more than $7.4 billion in creditor distributions, requiring opt-in consent for releases from the Sackler family. A hearing to confirm this revised plan is scheduled for November 2025.