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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe DOJ Moves To Block The Purdue Pharma Bankruptcy Deal That Shields The Sacklers
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southpaw
@nycsouthpaw
US Trustee intervenes to block Sackler family immunity deal
The Justice Department Moves To Block The Purdue Pharma Sackler Bankruptcy Deal
The DOJ is seeking to block implementation of any part of the Purdue Pharma bankruptcy deal until legal challenges are settled. The deal granted Sackler family members immunity from opioid lawsuits.
npr.org
5:21 PM · Sep 16, 2021
https://www.npr.org/2021/09/16/1037806819/opioids-purdue-pharma-sackler-settlement-bankruptcy-deal
A division of the Justice Department that serves as a watchdog over the federal bankruptcy system filed an appeal late Wednesday seeking to block the controversial Purdue Pharma bankruptcy plan.
William Harrington, who serves as U.S. trustee for the Justice Department, also filed documents requesting an "expedited stay" to prevent implementation of the settlement.
The deal, which Judge Robert Drain approved Sept. 1, granted sweeping immunity from opioid lawsuits to members of the Sackler family who own the drug company.
The Sacklers, who are not bankrupt, were granted releases from liability after agreeing to contribute roughly $4.3 billion of their private wealth to the deal.
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OAITW r.2.0
(23,862 posts)you should be held accountable.
Takket
(21,425 posts)the family is worth $11 billion
https://oversight.house.gov/news/press-releases/committee-releases-documents-showing-sackler-family-wealth-totals-11-billion
So the deal leaves them with 6.7 billion in wealth. in other words, more money then they could ever spend. losing 4.3 billion of 11 will cause them no pain, have no effect on their lifestyle, and certainly won't teach them anything that could be remotely construed as a lesson.
Response to Takket (Reply #2)
Chin music This message was self-deleted by its author.
dsc
(52,130 posts)since the money is paid out overtime, by some estimates they may wind up with about the same amount of money after the pay out as they have now. In otherwords, the money can be paid from investment income.
crickets
(25,896 posts)LetMyPeopleVote
(144,005 posts)The release of third party claims is very questionable under the bankruptcy rules. There was some amazing forum shopping done by Perdue and the Sackler family This appeal has a good chance of working
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RANDYWILDMAN
(2,645 posts)because all the money they made and all the damage they caused.
This family is almost as shitty as TFG and his family. Almost
and this judge what was he thinking ? How bout full pay right now, they can afford it or make a better deal.