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1. The #PurduePharma Ch. 11 case was filed in White Plains NY. This court has become a court of choice for large cases. The Honorable Robert D. Drain is the United States Bankruptcy judge and presides over several high profile large cases like Sears. Sorry Delaware. 😎
2. In light of media reports of massive fraudulent transfers, I expect the DOJ will be pressured to seek the appointment of a Chapter 11 Trustee. I would probably expect the states that are impacted to jointly hire a top Bankruptcy firm to try to gain control of the case.
3. This may not be as big as Delaware's asbestos litigation but will impact our drug industry that may be facing something bigger than they are currently prepared to deal with because Bankruptcy cases have discovery procedures that are often referred to as fishing expeditions.
