The coming week in bankruptcy: November 8, 2021


November 3 (Reuters) – Here is a look at some upcoming events of interest to the Texas bankruptcy courts law community. Unless otherwise specified, all times are local and court appearances are virtual due to the COVID-19 pandemic.

Monday, November 8

9:30 a.m. – Puerto Rico’s financial watchdog will begin a long-awaited hearing on its draft debt adjustment plan, which aims to restructure more than $ 70 billion in debt. The judge overseeing the bankruptcy-type proceedings set aside 10 days for the case. The case is In re Commonwealth of Puerto Rico, US District Court, District of Puerto Rico, No. 17-03283. For the Supervisory Board: Martin Bienenstock of Proskauer Rose.

10:00 am – Mallinckrodt Plc will urge the judge overseeing its bankruptcy to dismiss insurers’ arguments that their claims for reimbursement of the drug company’s Acthar Gel product should be given higher priority in its creditors payment plan. The dispute comes amid Mallinckrodt’s multi-day hearing on approval of his proposed reorganization plan. The case is In re Mallinckrodt Plc, United States Bankruptcy Court, District of Delaware, No. 20-12522. For Mallinckrodt: George Davis of Latham & Watkins. For the insurers Attestor Ltd and Humana Inc: Joseph Baio of Willkie Farr & Gallagher.

Tuesday, November 9

10:00 a.m. – Purdue Pharma LP will urge Texas bankruptcy courts judge to dismiss a request by the US Department of Justice’s bankruptcy watchdog to suspend implementation of its corporate reorganization and dispute resolution plan. opioids to allow appeals of the order approving the plan. Purdue has already been successful in another court on this issue. The case is In re Purdue Pharma LP, US District Court, Southern District of New York, No. 21-07966. For Purdue: Marshall Huebner of Davis Polk & Wardwell. For the American Trustee: Linda Riffkin.

Wednesday November 10

9:30 a.m. – LTL Management LLC, the Johnson & Johnson subsidiary holding the pharmaceutical company’s talc responsibilities, will appear in court in response to a judge’s order to explain why its Chapter 11 case shouldn’t not be transferred out of North Carolina, where she is currently on hold. A government Texas bankruptcy courts watchdog has decided to move the case to New Jersey, where most of J&J’s assets and employees are located. The case is LTL Management LLC, US Bankruptcy Court, Western District of North Carolina, No. 21-30589. For LTL management: Gregory Gordon of Jones Day.

Thursday November 11

Bankruptcy courts are closed for the federal holiday.

Friday November 12

1 p.m. – The American Bankruptcy Institute will host a panel on student loans as part of its Consumer Practice Extravaganza. Interested viewers can register for the virtual conference here.

Do you know of an event that could be included in Week Ahead in Bankruptcy? Contact Maria Chutchian at [email protected]

Maria Chutchian reports on bankruptcies and corporate restructurings. She can be reached at [email protected]


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