https://www.smh.com.au/business/companies/oxycontin-maker-s-bankruptcy-plan-that-shields-sackler-family-from-future-lawsuits-to-be-approved-20210902-p58o29.html
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OxyContin maker’s bankruptcy plan that shields Sackler family from future lawsuits to be approved - Sydney Morning Herald
9/1/21 at 9:47pm
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The Sydney Morning Herald
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Tom Hals Mike Spector
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David Sackler, one of Purdue’s owners, testified that he and other relatives had a “moral responsibility” to help combat the opioid crisis in light of OxyContin’s role.Credit:AP More than 95 per cent of creditors voting approved Purdue’s restructuring, far above the legal threshold required for a bankruptcy judge’s blessing. David Sackler testified that he and other relatives had a “moral responsibility” to help combat the opioid crisis in light of OxyContin’s role. When his father, former Purdue president Richard Sackler, was asked by a lawyer for Washington state opposing the bankruptcy plan whether the family or the company bear any responsibility for the opioid crisis, he responded with a firm “no.” Loading Drain, the judge overseeing the case in a White Plains, New York, bankruptcy court, agreed early in the case to halt litigation against Purdue and Sackler family members who had not filed for bankruptcy themselves.
The bankruptcy plan includes a $US4.5 billion contribution from the billionaire owners of Purdue Pharma along with legal releases shielding the family from future opioid lawsuits.
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