Latest news with #Plan
Yahoo
40 minutes ago
- Business
- Yahoo
Purdue Pharma L.P. Receives Court Approval of Disclosure Statement Filed in Connection with its Plan of Reorganization
Plan to deliver more than $7.4 billion of creditor distributions Company to begin creditor vote solicitation process; voting deadline set for September 30, 2025 STAMFORD, Conn., June 20, 2025--(BUSINESS WIRE)--Purdue Pharma L.P. ("Purdue") today announced that the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") approved the Company's disclosure statement for its Chapter 11 Plan of Reorganization. The disclosure statement provides creditors with detailed information on the terms of the Plan and will accompany the ballots that will be sent to the more than 600,000 claimants eligible to vote. The court has set a September 30 voting deadline and a November confirmation hearing. "Following the 2024 Supreme Court ruling, we doubled down on our commitment to work with our creditors to design a new Plan that delivers unprecedented value to those affected by the opioid crisis. Today's disclosure statement approval is a major milestone in that effort," said Purdue Board Chairman Steve Miller. "We and our creditors have worked tirelessly in mediation to build consensus and negotiate a settlement that will increase the total value provided to victims and communities, put billions of dollars to work on day one, and serve the public good. We sincerely thank our stakeholders for their dedication and collaboration, and we look forward to having the plan confirmed and consummated as quickly as possible." Purdue's Plan of Reorganization includes the following elements: Assuming full creditor participation, the Sacklers will make settlement payments of approximately $6.5 billion in installments over the next 15 years, subject to certain reserves. They will pay $1.5 billion on the day the Plan becomes effective. Purdue will contribute 100% of its assets, with an expected $900 million in cash available for distribution on the day of emergence. Notably, the Plan is the only opioid settlement to date that meaningfully compensates individual victims. Assuming full participation, individual victims will receive more than $850 million. In addition to this cash value, the Plan creates a new company with a public minded mission. The new company will provide millions of doses of lifesaving opioid use disorder treatment and overdose reversal medicines at no profit. The Sacklers, who exited the Board of Purdue by the end of 2018 and have had no involvement in Purdue since that time, will have no role whatsoever in the new company. Purdue Pharma L.P. will be liquidated following emergence. The Plan also provides a historic level of transparency. It creates a document repository that will make available to the public millions of documents, including privileged documents, related to Purdue's historical sales and marketing practices. The Plan does not contain third-party releases and fully complies with the Supreme Court's June 2024 decision in Harrington. The disclosure statement approved today provides the full details about the material aspects of the plan. The Plan is subject to confirmation by the Bankruptcy Court. This release is not intended as a solicitation of a vote on the Plan. About Purdue Pharma L.P. Purdue Pharma and its subsidiaries develop, manufacture and market medications to meet the evolving needs of healthcare professionals, patients, and caregivers. Purdue and its subsidiaries focus on balancing innovative science with clinically effective, compassionate care. The Company's goals are to serve patients who rely on its medicines, pursue public health initiatives intended to help abate the opioid crisis, advance its pipeline of branded and generic medications, and introduce medicines that will help save and improve lives. For more information, visit View source version on Contacts Media Contact: news@
Business Wire
an hour ago
- Business
- Business Wire
Purdue Pharma L.P. Receives Court Approval of Disclosure Statement Filed in Connection with its Plan of Reorganization
STAMFORD, Conn.--(BUSINESS WIRE)--Purdue Pharma L.P. ('Purdue') today announced that the United States Bankruptcy Court for the Southern District of New York (the 'Bankruptcy Court') approved the Company's disclosure statement for its Chapter 11 Plan of Reorganization. The disclosure statement provides creditors with detailed information on the terms of the Plan and will accompany the ballots that will be sent to the more than 600,000 claimants eligible to vote. The court has set a September 30 voting deadline and a November confirmation hearing. 'Following the 2024 Supreme Court ruling, we doubled down on our commitment to work with our creditors to design a new Plan that delivers unprecedented value to those affected by the opioid crisis. Today's disclosure statement approval is a major milestone in that effort,' said Purdue Board Chairman Steve Miller. 'We and our creditors have worked tirelessly in mediation to build consensus and negotiate a settlement that will increase the total value provided to victims and communities, put billions of dollars to work on day one, and serve the public good. We sincerely thank our stakeholders for their dedication and collaboration, and we look forward to having the plan confirmed and consummated as quickly as possible.' Purdue's Plan of Reorganization includes the following elements: Assuming full creditor participation, the Sacklers will make settlement payments of approximately $6.5 billion in installments over the next 15 years, subject to certain reserves. They will pay $1.5 billion on the day the Plan becomes effective. Purdue will contribute 100% of its assets, with an expected $900 million in cash available for distribution on the day of emergence. Notably, the Plan is the only opioid settlement to date that meaningfully compensates individual victims. Assuming full participation, individual victims will receive more than $850 million. In addition to this cash value, the Plan creates a new company with a public minded mission. The new company will provide millions of doses of lifesaving opioid use disorder treatment and overdose reversal medicines at no profit. The Sacklers, who exited the Board of Purdue by the end of 2018 and have had no involvement in Purdue since that time, will have no role whatsoever in the new company. Purdue Pharma L.P. will be liquidated following emergence. The Plan also provides a historic level of transparency. It creates a document repository that will make available to the public millions of documents, including privileged documents, related to Purdue's historical sales and marketing practices. The Plan does not contain third-party releases and fully complies with the Supreme Court's June 2024 decision in Harrington. The disclosure statement approved today provides the full details about the material aspects of the plan. The Plan is subject to confirmation by the Bankruptcy Court. This release is not intended as a solicitation of a vote on the Plan. Purdue Pharma and its subsidiaries develop, manufacture and market medications to meet the evolving needs of healthcare professionals, patients, and caregivers. Purdue and its subsidiaries focus on balancing innovative science with clinically effective, compassionate care. The Company's goals are to serve patients who rely on its medicines, pursue public health initiatives intended to help abate the opioid crisis, advance its pipeline of branded and generic medications, and introduce medicines that will help save and improve lives.
Straits Times
11 hours ago
- Business
- Straits Times
ComfortDelGro to move its corporate headquarters to Labrador Tower in November
The move comes as the lease on ComfortDelGro's long-time base in Braddell Road (above) expires in August 2026. ST PHOTO: KUA CHEE SIONG ComfortDelGro to move its corporate headquarters to Labrador Tower in November SINGAPORE - Transport giant ComfortDelGro will move its corporate headquarters to Labrador Tower, a new office building in Pasir Panjang, The Straits Times has learnt. The move, which will take place in November, comes as the lease on the mainboard-listed company's long-time base in Braddell Road expires in August 2026. A ComfortDelGro spokesperson confirmed in a statement to ST on June 20 that the company will relocate its corporate functions to Labrador Tower. It will join the Ministry of Health and insurer Prudential Singapore as tenants at the 34-storey mixed-use project, which was developed by utilities company SP Group and completed around mid-2024. ComfortDelGro did not specify the number of employees or the departments that will move , but ST understands they include those in finance, IT, human resources, legal, business development, as well as branding and corporate communications. 'This move is part of our ongoing efforts to create a more modern and sustainable work environment for our corporate staff,' the company said, noting the new office's proximity to Labrador Park MRT station on the Circle Line. Asked how much office space it will be leasing at Labrador Tower and why it chose to move its corporate head office there, ComfortDelGro's spokesperson said it was unable to provide more details at this time. The ComfortDelGro G roup had more than 12,400 employees in Singapore in 2024, with its subsidiary, public transport operator SBS Transit, accounting for more than three quarters of the workforce here. Chinese-language daily Lianhe Zaobao broke the news on June 15 that ComfortDelGro and SBS Transit will vacate their premises at 205 Braddell Road progressively from October. While ComfortDelGro's corporate staff will move to Pasir Panjang, SBS Transit - which has been based in Braddell since 1980 - will relocate to its other existing bus and rail premises. By end-2025, SBS Transit will move its office staff to Sengkang Rail Depot and Sengkang West Bus Depot, and its bus operations in Braddell to Hougang Bus Depot in Defu. For cabbies, ComfortDelGro said its maintenance workshop on its Braddell Road premises will continue to serve taxi drivers in the central region until a new five-storey automotive hub in Ubi opens in the first quarter of 2026 to take its place. Neither ComfortDelGro nor SBS Transit have said why they did not renew or extend the lease on the Braddell site, which remains zoned for 'transport facilities' use, according to the Urban Redevelopment Authority's 2019 Master Plan. Industrial developer JTC Corporation owns the 66,441 sq m plot of land , which is located next to the CTE. At present, it houses a range of facilities, including office space, workshops, diesel pumps and electric vehicle charging stations. Join ST's WhatsApp Channel and get the latest news and must-reads.
Yahoo
a day ago
- Business
- Yahoo
Alain Rhéaume Announces His Retirement as Chair of the Board of Directors of Boralex
MONTREAL, June 19, 2025 (GLOBE NEWSWIRE) -- Boralex Inc. ('Boralex' or the 'Company') (TSX: BLX) today announced that the Chair of its Board of Directors, Mr. Alain Rhéaume, has informed the Board that he will step down from his position once a successor has been appointed by the directors, no later than December of this year. Mr. Rhéaume is announcing his retirement following the release of Boralex's 2030 Strategy. The process of selecting a new Chair will be overseen by the Board's Governance Committee and must be completed no later than December 2025, at the request of Mr. Rhéaume, as he will then reach the 15-year term limit for directors in accordance with the Company's governance policies. 'In recent years, Boralex's Board of Directors has focused on the orderly evolution of the Company, including its leadership, strategic directions, and governance. We have made significant progress on each of these priorities, which are essential to our shareholders and all our stakeholders,' said Mr. Rhéaume. Under Mr. Rhéaume's leadership, Boralex has made substantial progress, including: Drawing on the succession plan implemented under the Board's supervision, the executive team has been renewed, beginning with the appointment of Patrick Decostre as President and Chief Executive Officer. The team now includes new leaders across several areas of the Company; Over the past 10 months, the Board has welcomed three new directors, enhancing the Board's broad range of skills and experience, while two others have stepped down; The objectives of the 2025 Strategic Plan have been rigorously pursued and largely achieved. The 2030 Strategy, unveiled on June 17, will ensure the continuation of Boralex's ambitious growth trajectory. 'This key milestone in Boralex's evolution, culminating in the presentation of its new 2030 Strategy, has required significant effort from both the Board and senior management. The implementation of the Company's new strategic directions will benefit from the appointment of a new Chair who can guide it over the medium term,' said Mr. Rhéaume. 'The turbulence and uncertainty of global economies present challenges that companies must adapt to, but the strong growth in energy demand and the ongoing energy transition offer significant opportunities for Boralex, which is well positioned to continue asserting itself as a leader in renewable energy,' he added. 'We express our deep gratitude for Alain Rhéaume's 15 years of service on Boralex's Board of Directors, including eight years as Chair. Alain combines sharp business acumen with unmatched governance expertise. Always available, attentive, and insightful, he consistently balances risk and opportunity with a human approach and a commitment to the greater good. On behalf of the entire Boralex team, I thank him sincerely.' 'I have greatly appreciated working with the highly dedicated and high-performing teams at Boralex, both on the Board, within management and across the organization. Together, we have helped advance this small company, born from the vision of its founder Bernard Lemaire, to a stage of development he would be proud of,' concluded Mr. Rhéaume. For more information on the Board of Directors and its governance practices, please visit the Boralex website. Caution Regarding Forward-Looking Statements Some of the statements contained in this press release, including, without limitation, those relating to the process of selecting a replacement for the position of Chair of the Board, are forward-looking statements based on current expectations, within the meaning of securities legislation. Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measure it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realization of a particular forward-looking statement. Unless otherwise specified by the Company, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialization of the results, performance, or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes. About Boralex At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50% to 3.2 GW. We are developing a portfolio of projects in development and construction of more than 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, discipline, expertise and diversity, we continue to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. For more information, visit or Follow us on Facebook and LinkedIn. For more information MEDIA INVESTOR RELATIONS Camille LaventureSenior Advisor, Public Affairs and External CommunicationsBoralex Inc.438 Stéphane MilotVice President, Investor Relations and Financial Planning and AnalysisBoralex Inc.514 Source: Boralex inc.
Scottish Sun
a day ago
- Business
- Scottish Sun
The best and worst degrees that could see you earn huge salary – with top job landing graduates nearly £70,000 a year
Scroll down for The Sun's top tips on landing your dream job JOB LOT The best and worst degrees that could see you earn huge salary – with top job landing graduates nearly £70,000 a year GOING to university costs an eye-watering £68,000, so it pays to pick a degree that will bank you a healthy paycheck. Here we take a look at the best and worst courses for earning a higher salary after graduation - and the difference in pay is a whopping £46,600. Advertisement 2 We reveal the degrees that lead to the highest - and lowest - paying jobs Credit: Getty While many students end up paying out £68,000, which is the total cost of studying. University costs have soared in recent years and the average student in England is now expected to graduate with a debt of £43,700. This sum includes maintenance and tuition loans. Most students will need to pay back their student loan over 30 years, after which point it is written off. This applies to graduates who are on a repayment scheme called Plan 5. Advertisement Meanwhile, those who applied for a student loan after August 2023 will now need to pay it back over 40 years. These students are on the Plan 2 repayment scheme. Repaying such large debts can make it much harder to save for a house deposit or start a family. So, if you are weighing up your options after school or college, or even considering a career change, then our guide could help. Recruitment website Adzuna has crunched the numbers to reveal which degrees offer the best - and worst - value for money. Advertisement The company analysed more than 100,000 CVs from job seekers between 2020 and 2025 to figure out how much they earned five years after graduation. Five of the degrees will lead to a job with a salary of more than £60,000 within five years - here's what you need to know. Which degrees lead to top-paying jobs? Unsurprisingly, students who study STEM subjects (Science, Technology, Engineering and Maths) are most likely to pocket the best pay checks. Students with Computer Science degrees are likely to earn the most out of anyone, and can expect to pocket an enormous £69,692 a year. Advertisement That's £32,262 more than the average national salary, which is £37,430, according to the Office for National Statistics. 2 Figures provided by Adzuna Close behind were graduates with Biomedical Sciences degrees, who could earn around £67,792 a year. Advertisement Meanwhile, students on Data Science degrees can expect to earn £64,412 a year. Financial Management graduates could pocket £63,662 a year. Hot on the heels are Business Analytics students, who can expect to earn £62,537 a year. Plus, Economics and Politics students can bag a pay check of £55,520 a year. Advertisement How to find the right job for you Simon Fabb, CEO of shares his tips to help you find the right role. Get experience "Something I'd suggest every student do is start gaining relevant experience while they're still studying. "The job market is so oversaturated and having a degree on its own doesn't hold the same weight it used to, so have a look for internships, part-time work, freelance projects and volunteering opportunities to bolster your CV while reading for your degree. "Employers will want to see evidence of initiative and a real-world application of the skills you've been learning - especially is competitive sectors like tech or finance." Consider your location "Graduate salaries can vary hugely depending on where you're willing to work so have a think about location. "Large cities and major hubs, particularly London and parts of the South East, tend to offer significantly higher starting salaries than other regions. "Being flexible about location will gives you access to better-paid opportunities, especially in industries where demand is concentrated geographically." Look for remote jobs "In some sectors, remote roles are now common at entry level too, which opens up national and even international job markets." Work on your communication skills "Strong communication skills, confidence in interviews, adaptability, and a clear understanding of the role and company carry just as much weight. "If you can demonstrate that you understand the specific challenges and goals of a business you're much more likely to be offered higher starting package." Meanwhile, Accounting graduates have an average salary of £55,375 while those who study Big Data can earn an average of £54,075 a year. Engineers are also highly sought after, with two degrees in this subject leading to a high pay packet. Electronics and Communication Engineering students could walk away with £57,287 a year. Meanwhile, Industrial Engineers could earn slightly less, at £53,536 a year. Advertisement Which degrees lead to the lowest paying jobs? There are certain degrees to swerve though if you're wanting a big bank balance. It may come as no surprise that those who studied the Arts will be the worst off. Graduates who studied Photography will earn the lowest salary of all students, with an average pay packet of £23,030 a year. That's £14,400 less than the national average. Advertisement Several creative degrees will also lead to low-paying jobs. Among them is Textiles, which comes with an average salary of £23,837 after five years. Music and Fine Art graduates can also expect to earn less than their peers. A graduate with a music degree can expect to earn £23,903 a year, while Fine Art students can expect to pocket £24,020. Advertisement I'm using my music degree to get into marketing MUSIC graduate Shakila Karim is using her degree to get a job in marketing. The 27-year-old graduated from ICMP with a Music Degree in 2019. Shakila had hoped to launch a successful music career and perform at venues across the UK, but the pandemic made this impossible. Instead, she worked at her local Tesco and gave music lessons to students online. When restrictions lifted she did several local performances, including at a charity gig in Bishop's Stortford. Shakila, from Hertfordshire, has now used her degree to get work experience in music marketing. She said: "I worked for a year at a radio plugger service, which pitched new music to heads of music, producers and DJs. "Now I've got marketing experience I'm trying to use it to find a full-time job in marketing. "I want to make sure my skills are transferable across all marketing industries and find a full-time marketing job." Several humanities degrees including Geography, Politics and History also made the list. A Geography graduate will earn an average salary of £23,445 a year, while Politics and History students will walk away with an average salary of £24,094. Meanwhile, graduates with specialist degrees also often earn low salaries. Criminology students earn a salary of £23,420 five years after graduation. Advertisement Translation graduates can earn a salary of £23,498 while American studies students can expect to earn £23,924. Plus Zoology graduates can expect to earn £24,297 a year on average. How can I make myself stand out? When applying for a job, it's important to make sure you stand out. Tailor your CV and cover letter to the role you are after. Advertisement Highlight your skills, experience and qualifications and make it clear that they match the job. Emphasise what makes you the right candidate for the role. In your cover letter and interview explain clearly why you are excited about the role, company and industry. You should also make it clear how your values align. Advertisement You can find this information on the company's website and in the job description. If you do not have the right experience, then emphasise the skills you do have. Think teamwork, communication and problem-solving. You can also mention soft skills such as time management, communication and resilience. Advertisement You can also highlight the ways that you have continued to learn and improve yourself. This could be through courses or workshops at university or hobbies. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
