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Makers of OxiCotin, Purdue Pharma, Files Reorganization Chapter 11 "Bankrupty"

posted by martyb on Monday September 16 2019, @11:08PM   Printer-friendly
from the A-Rose-By-Any-Other-Name dept.

An Anonymous Coward writes:

https://www.bbc.com/news/business-49711618

In the face of thousands of lawsuits about the alleging abusive practices contributing to the opioid crisis in the US, Purdue Pharma (makers of OxiCotin) are filing Chapter 11 Bankruptcy protection. If the courts agree, this would allow them to restructure their debts and continue operations.

"Under the terms of the [proposed] deal, Purdue is to be dissolved and the money raised - estimated to be about $10bn-$12bn (£8bn-£9.7bn), including a minimum cash contribution of $3bn from the Sackler family - will go towards settling the lawsuits. The Sacklers have also offered an additional $1.5bn from the eventual sale of Mundipharma, another pharmaceutical firm owned by the family.

Several of the states that oppose the deal, such as New York, Connecticut and Massachusetts, have questioned how Purdue came up with the contribution figure.

The states want the Sackler family to put in more of its own money into the deal."

Note: Bankruptcy is not what regular people think it is. Similar to the "kill" command in Unix/Linux, there are lots of versions which may or may not do what people think. As an example, see: https://www.credit.com/debt/filing-for-bankruptcy-difference-between-chapters-7-11-13/

Original Submission

 
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  • (Score: 0, Flamebait) by Azuma Hazuki on Tuesday September 17 2019, @02:33AM (4 children)

    by Azuma Hazuki (5086) on Tuesday September 17 2019, @02:33AM (#894957) Journal

    Sorry? I see your lips moving in what look like English syllables, but all I hear is some variation on the theme of "Aur aur aur aur!" Who the hell let that sea lion in here?

    --
    I am "that girl" your mother warned you about...
    Starting Score:    1  point
    Moderation   -2  
       Flamebait=2, Total=2
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  • (Score: -1, Troll) by Anonymous Coward on Tuesday September 17 2019, @02:51AM (1 child)

    by Anonymous Coward on Tuesday September 17 2019, @02:51AM (#894968)

    Sounds like you need the PMITA treatment. And I'm not talking about a strap-on.

    • (Score: 1, Troll) by Azuma Hazuki on Wednesday September 18 2019, @12:31AM

      by Azuma Hazuki (5086) on Wednesday September 18 2019, @12:31AM (#895433) Journal

      It's PMITV in this case, thanks, and a strapon works perfectly for it :) Not that you're ever going to know one way or another. Your mother's was the first and last vagina you will ever get that close to, at least without the aid of drugs and/or weapons.

      --
      I am "that girl" your mother warned you about...

  • (Score: 2) by c0lo on Tuesday September 17 2019, @03:07AM

    by c0lo (156) Subscriber Badge on Tuesday September 17 2019, @03:07AM (#894972) Journal

    Chill, Azuma. Don't make spend another mod point telling you you're flamebiting, and excessively so.

    I'm able to read two valid questions that are not including anything personal; they can stand on their own no matter the context. What made you think those question are somehow an ad hominem directed to you?
    (Stressful times in your life? Sleep deficit? What?)

    --
    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford

  • (Score: 1, Insightful) by khallow on Tuesday September 17 2019, @01:00PM

    by khallow (3766) Subscriber Badge on Tuesday September 17 2019, @01:00PM (#895116) Journal
    I doubt anyone with a functioning brain had any trouble understanding that post. Your feigned inability to understand normal written English is just another brick in the wall.