Following the Supreme Court’s recent decision in Harrington v. Purdue Pharma L. P., 603 U.S.—,144 S. Ct. 2071 (2024), the Committee and Debtor filed the fourth amended plan and supporting disclosure statement on September 13, 2024. The plan was amended consistent with the Supreme Court’s decision that non-consensual third-party releases in a plan are not permitted under the Bankruptcy Code. Because of this development, the fourth amended plan will be distributed to survivors for another vote, after the new disclosure statement, ballot forms, and solicitation and voting procedures are approved by the Court.

On June 7, 2022, the Court appointed Paul Van Osselaer as an additional mediator. The Committee agreed to the appointment of Mr. Van Osselaer. The Committee is continuing to participate in confidential mediation sessions led by Mr. Van Osselaer with the Debtor and its insurers.

On June 2, 2022, the bankruptcy court granted the Committee’s application to employ The Claro Group, LLC (“Claro”) as its valuation expert. Claro will provide expert assistance to the Committee with respect to the value of survivor claims and the allocation of the Debtor’s insurance to survivor claims. Claro’s expert services will play a critical role in ensuring that survivors are fairly compensated by the Debtor and its insurers.

On March 3, 2022, the bankruptcy court granted the Committee’s application to employ Berkeley Research Group, LLC (“BRG”) as the Committee’s financial advisor. The Court authorized BRG to assist the Committee with analyzing the financial condition of the debtor, among other things. BRG’s analysis will provide insight into the scope of the Debtor’s assets and the Debtor’s ability to compensate survivors.