Supreme Court to Decide Fate of Purdue Pharma's Bankruptcy Plan Shielding Sackler Family
The Supreme Court is hearing arguments today regarding the bankruptcy plan of Purdue Pharma, the pharmaceutical company responsible for manufacturing OxyContin and fueling the opioid epidemic. The plan includes legal protections for the Sackler family, who own Purdue, shielding them from civil liability for the crisis. The bankruptcy plan was approved by 95% of victims, but several states, Canadian municipalities, indigenous tribes, and individuals voted against it due to the protections for the Sacklers. The case before the Supreme Court will determine whether non-debtor releases, like the one for the Sacklers, are allowed under federal bankruptcy law. A decision is expected by the summer and could have significant implications for future bankruptcy cases involving mass torts.