Sackler [opioid] ruling… [rejected & overturned]
U.S. District Judge Colleen McMahon in Manhattan found that a bankruptcy judge overstepped his authority by approving the plan that gave the Sacklers immunity in return for $4.5 billion for those harmed by Purdue… has overturned a bankruptcy settlement worth more than $4 billion which granted immunity from opioid lawsuits to members of the Sackler family who own the company that makes Oxycontin… the Sacklers trying to game the bankruptcy system… a legal firewall… an outrage…
The family has come under scrutiny for withdrawing $10 billion from Purdue between 2008 and 2017. The Sacklers have said almost half the money went to paying taxes, but opponents of the plan allege the withdrawals strengthened the family’s hand in bankruptcy negotiations and gave them leverage to demand legal immunity… the US bankruptcy trustee’s office, eight state attorneys general and some other entities have been fighting the deal. They argue that it does not properly hold members of the Sackler family accountable and that it usurps states’ ability to try to do so… could eventually reach the Supreme Court.
Original Article (Reuters & The Guardian & NPR):
Judge overturns settlement that protected the Sackler family from opioid lawsuits & Sackler ruling could delay Purdue’s payment of billions by years & Judge rejects opioid settlement over legal protections for Sackler family
Artwork Fair Use: Ajay Suresh