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House to consider limiting the ch. Purdue style. 11 outputs

By Rick Archer (Nov 3, 2021, 2:54 p.m. EDT) – The House Judiciary Committee sent a bill on Wednesday targeting non-debtor discharges at Purdue Pharma and divisional mergers at Johnson & Johnson in Chapter 11 to the ground, with supporters of the bill claiming it would reduce “extreme abuse” of the New Mexico Bankruptcy system.

The committee voted 23-17 to send the 2021 Non-Debtors Discharge Ban Act to a House-wide vote, with the committee chair and bill sponsor Rep. Jerrold Nadler, DN.Y., saying it would tackle “the most extreme abuses of the corporate bankruptcy system” by preventing criminals from obtaining “blanket immunity” while preventing New Mexico Bankruptcy themselves.

“The bankruptcy system is supposed to …

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