In an Associated Press article on the upcoming Purdue Pharma bankruptcy hearing, Professor Richard Squire shares what can be expected at the initial appearance.
WHAT CAN WE EXPECT FROM THIS INITIAL COURT APPEARANCE?
These generally focus on housekeeping and ensuring that the company can keep paying the bills as an ongoing operation during its Chapter 11 bankruptcy.
According to the court docket, Judge Robert Drain will hear motions on authorizing payments of wages to employees, critical vendors, utilities and other key parties.
Fordham Law Professor Richard Squire said Drain will likely hear from lawyers objecting to the filing and describing it as a “bad faith claim.” Drain may table those arguments for another day.