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

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/


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  • (Score: 1, Interesting) by Anonymous Coward on Tuesday September 17 2019, @05:06AM (2 children)

    by Anonymous Coward on Tuesday September 17 2019, @05:06AM (#895007)

    He was jumped-up new trash money without family or real friends who probably got his money via blackmail. The true 0.1% were happy to see him suicide-watched* while his few 'friends' were busy trying to hide any connections they had to him.

    *from wikipedia: Suicide-watch is an intensive monitoring process used to ensure that anyone except Jeffrey Epstein cannot attempt suicide.

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  • (Score: -1, Flamebait) by Anonymous Coward on Tuesday September 17 2019, @05:16AM

    by Anonymous Coward on Tuesday September 17 2019, @05:16AM (#895012)

    RMS is still loyal to Epstein ;)

  • (Score: 1) by khallow on Tuesday September 17 2019, @04:27PM

    by khallow (3766) Subscriber Badge on Tuesday September 17 2019, @04:27PM (#895242) Journal
    No True 0.1% would have been on the other of that fallacy!