William Organek on Mass Tort Bankruptcies
In this episode, William Organek, program fellow at the bankruptcy project at Harvard Law School, discusses his new article, "A Bitter Result": Purdue Pharma, a Sackler Bankruptcy Filing, and Improving Monetary and Nonmonetary Recoveries in Mass Tort Bankruptcies. Billy explains why he thinks that creditors in the Purdue Pharma bankruptcy received a better result than they would have if some Sackler family members were forced to file their own bankruptcy cases. In particular, he talks about balancing monetary and dignitary interests in bankruptcy cases, and the uses of examiners and trustees to achieve certain non-monetary objectives. Despite these outcomes, Organek maintains that this was a "bitter result" and explains how we might do better in the future. Organek's article was published earlier this year in the peer-reviewed American Bankruptcy Law Journal and is available on SSRN.