Corporate bankruptcy

FILE - In this April 2, 2018, file photo, a pharmacist in San Francisco poses for photos holding a bottle of OxyContin. In court papers filed in New York on Sunday, Sept. 15, 2019, Purdue Pharma, the drug's manufacturer, flied for Chapter 11 bankruptcy protection. (AP Photo/Jeff Chiu, File)
September 15, 2019 - 10:27 pm
The company that made billions selling the prescription painkiller OxyContin has filed for bankruptcy days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids. The filing late Sunday night in White Plains, New York, was anticipated...
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FILE - In this Monday, Jan. 28, 2019 photo, a man holds a sign at a rally before a California Public Utilities Commission meeting in San Francisco. Pacific Gas & Electric has agreed to pay $11 billion to a group of insurance companies representing most of the claims from Northern California wildfires in 2017 and 2018 as the company tries to emerge from bankruptcy, the utility announced Friday, Sept. 13, 2019.(AP Photo/Jeff Chiu, File)
September 13, 2019 - 3:53 pm
SAN FRANCISCO (AP) — Pacific Gas & Electric has agreed to pay $11 billion to a group of insurance companies representing claimants from deadly Northern California wildfires in 2017 and 2018 as the company tries to emerge from bankruptcy, the utility announced Friday. The utility said in a...
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CORRECTS STATE TO OHIO NOT PENNSYLVANIA - Medications that are are stored in the police headquarters that are and slated for destruction, are shown in a locked storage area, Wednesday, Sept. 11, 2019, in Barberton, Ohio. Attorneys representing some 2,000 local governments said Wednesday they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation's opioid crisis. (AP Photo/Keith Srakocic)
September 13, 2019 - 2:08 am
For months, the judge overseeing national litigation over the opioids crisis urged all sides to reach a settlement that could end thousands of lawsuits filed by state and local governments. But the chaotic developments this week in the case against OxyContin maker Purdue Pharma underscore how...
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FILE - This May 8, 2007, file photo shows the Purdue Pharma logo at its offices in Stamford, Conn. It’s not entirely clear what a bankruptcy filing for Purdue Pharma would mean for the wealth of the Sackler family behind the business. Depending on how various legal actions proceed, the billionaire family could be on the hook for much more than outlined in the settlement. (AP Photo/Douglas Healey, File)
September 12, 2019 - 11:05 pm
Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in...
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FILE - This May 8, 2007, file photo shows the Purdue Pharma logo at its offices in Stamford, Conn. It’s not entirely clear what a bankruptcy filing for Purdue Pharma would mean for the wealth of the Sackler family behind the business. Depending on how various legal actions proceed, the billionaire family could be on the hook for much more than outlined in the settlement. (AP Photo/Douglas Healey, File)
September 12, 2019 - 5:37 pm
Purdue Pharma could be heading for bankruptcy but the extent to which it would affect the Sackler family fortunes remains unclear. The company, which makes OxyContin and other drugs, this week reached a tentative agreement with thousands of local governments and more than 20 states over its role in...
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CORRECTS STATE TO OHIO NOT PENNSYLVANIA - Narcotics detective Ben Hill, with the Barberton Police Department, shows two bags of medications that are are stored in their headquarters and slated for destruction, Wednesday, Sept. 11, 2019, in Barberton, Ohio. Attorneys representing some 2,000 local governments said Wednesday they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation's opioid crisis. (AP Photo/Keith Srakocic)
September 11, 2019 - 6:51 pm
HARTFORD, Conn. (AP) — A tentative settlement announced Wednesday over the role Purdue Pharma played in the nation's opioid addiction crisis falls short of the far-reaching national settlement the OxyContin maker had been seeking for months, with litigation sure to continue against the company and...
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FILE - In this Dec. 12, 2017 file photo, city attorney Dennis Herrera, center, speaks at a news conference next to acting mayor London Breed, left, at City Hall in San Francisco. San Francisco officials are offering to buy Pacific Gas & Electric's power lines and other infrastructure in the city for $2.5 billion. Mayor London Breed and City Attorney Dennis Herrera presented the offer in a letter sent to the utility Friday, Sept. 6, 2019. (AP Photo/Jeff Chiu, file)
September 09, 2019 - 8:48 pm
SAN FRANCISCO (AP) — PG&E Corp. proposed Monday to resolve its bankruptcy case by offering nearly $18 billion to settle claims from devastating wildfires started by its equipment in recent years — an amount immediately criticized by victims who said less than half of that is intended for them...
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FILE - In this Friday, Aug. 17, 2018, file photo, Christine Gagnon of Southington, Conn., protests with other family and friends who have lost loved ones to OxyContin and opioid overdoses at Purdue Pharma LLP headquarters in Stamford, Conn. Gagnon lost her son Michael 13 months earlier. OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation’s deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday, Sept. 7, 2019, in a message to their counterparts across the country. (AP Photo/Jessica Hill, File)
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September 08, 2019 - 8:49 am
State and local governments have sought billions of dollars from Purdue Pharma as a way to hold the company and the family that owns it accountable for the nation's opioid epidemic, a potential payout that is now clouded in uncertainty after state attorneys general said settlement talks had broken...
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FILE - In this Friday, Aug. 17, 2018, file photo, Christine Gagnon of Southington, Conn., protests with other family and friends who have lost loved ones to OxyContin and opioid overdoses at Purdue Pharma LLP headquarters in Stamford, Conn. Gagnon lost her son Michael 13 months earlier. OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation’s deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday, Sept. 7, 2019, in a message to their counterparts across the country. (AP Photo/Jessica Hill, File)
September 08, 2019 - 1:19 am
CLEVELAND (AP) — OxyContin maker Purdue Pharma is expected to file for bankruptcy after settlement talks over the nation's deadly overdose crisis hit an impasse, attorneys general involved in the talks said Saturday. The breakdown puts the first federal trial over the opioid epidemic on track to...
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August 16, 2019 - 8:03 pm
SAN FRANCISCO (AP) — A judge presiding over Pacific Gas and Electric's bankruptcy case agreed Friday to allow a state jury to decide whether the power company's equipment ignited a devastating wildfire in California wine country nearly two years ago. State fire investigators have already determined...
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