from the would-justice-be-a-sentence-to-a-month-of-4x-daily-doses-and-then-no-more? dept.
A federal judge has upended the bankruptcy plan of OxyContin maker Purdue Pharma, saying the billionaire Sackler family that created the company could not be released from legal claims over the opioid epidemic.
In a 142-page ruling, U.S. District Judge Colleen McMahon in New York said that the controversial provision to grant the Sackler family members immunity from thousands of lawsuits over the public health crisis is "inconsistent" with the U.S. Bankruptcy Code, disagreeing with the court that had approved the approximately $4.5 billion agreement in the fall.
After the decision, the company announced it would appeal. The chairman of the company's board, Steve Miller, said in a statement that the ruling would "delay and perhaps end the ability of creditors, communities, and individuals to receive billions in value to abate the opioid crisis."