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Judge rejects Purdue Pharma바카라 게임 웹사이트s sweeping opioid settlement

Judge rejects Purdue Pharma바카라 게임 웹사이트s sweeping opioid settlement
The Sackler Czar paying $4.3 billion. We believe that's more than any law enforcement action has collected from individuals ever. And all of that money will go for treatment and care. The sack Lear's will be permanently banned from the opioid business produce, pharma will cease to exist. And most importantly, the public will witness the most significant disclosure in any case ever, including every piece of evidence produced has produced about its opioid business in the last 20 years, 10s of millions of documents that have never been seen before, never have been turned over, including attorney client privileged documents. All of this will be made publicly available. We need more resources, more beds, more prevention, more, more education. And clearly no one is happy with this settlement. Can the Sackler, can the Sackler is do more? Hell yeah, they can do a lot better. But it should first begin with an apology and there's no amount of money, um no amount of money that can bring back any of those their loved ones. But the reality of the situation is is that the Sackler family is primarily responsible for this crisis. They should own up to it.
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Judge rejects Purdue Pharma바카라 게임 웹사이트s sweeping opioid settlement
A judge has rejected OxyContin maker Purdue Pharma바카라 게임 웹사이트s bankruptcy settlement of thousands of lawsuits over the opioid epidemic because of a provision that would protect members of the Sackler family from facing litigation of their own.In a ruling Thursday, U.S. District Judge Colleen McMahon in New York found that federal bankruptcy law does not give the bankruptcy judge who had accepted the plan the authority to grant that kind of release for people who are not declaring bankruptcy themselves.The ruling is likely to be appealed by the company, family members and the thousands of government entities that support the plan.A Purdue spokesperson said Thursday evening that the company was preparing a statement. Representatives of the two branches of the family who own the company did not immediately respond to a request for comment.Connecticut Attorney General William Tong, who was among a handful of state officials seeking to have the deal undone, called the ruling "a seismic victory for justice and accountability." Tong said the ruling will "re-open the deeply flawed Purdue bankruptcy and force the Sackler family to confront the pain and devastation they have caused."Purdue sought bankruptcy protection in 2019 as it faced thousands of lawsuits claiming the company pushed doctors to prescribe OxyContin, helping spark an opioid crisis that has been linked to more than 500,000 deaths in the U.S. over the last two decades.Through the bankruptcy court, it worked out a deal with its creditors. Members of the Sackler family would give up ownership of the company, which would transform into a different kind of entity that would still sell opioids 바카라 게임 웹사이트 but with profits being used to fight the crisis. It would also develop new anti-addiction and anti-overdose drugs and provide them at little or no cost.Sackler family members also would contribute $4.5 billion in cash and charitable assets as part of an overall deal that could be worth $10 billion, including the value of the new drugs, if they're brought to market.Government entities and businesses agreed to use any money they receive fighting the opioid epidemic. The deal also calls for millions of company documents, including communications with lawyers, to be made public.In return, members of the wealthy family would get protection from lawsuits over their role in the opioid crisis 바카라 게임 웹사이트 both the 860 already filed and any others in the future.Most state and local governments, Native American tribes, individual opioid victims and others who voted said the plan worked out in the bankruptcy court should be accepted.But the U.S. Bankruptcy Trustee's office, eight state attorneys general and some other entities have been fighting the deal. They argue that it does not properly hold members of the Sackler family accountable and that it usurps states' ability to try to do so.A bankruptcy court judge approved the plan over the objections in September. But the opponents appealed to McMahon's court.The main issue on the appeal was the lawfulness of the measures that would extend legal protections to family members.Such "third-party releases" are not used in most bankruptcy cases, but they are common in cases such as Purdue's, in which the companies involved are burdened with lawsuits and have relatively little value 바카라 게임 웹사이트 but their wealthy owners could contribute.The Purdue deal would not protect family members from any criminal charges. But so far none have been filed, and there are no signs that any are forthcoming, though some activists are calling for charges.In a hearing, McMahon focused in on how Sackler family members transferred $10.4 billion from the privately held Stamford, Connecticut-based company over the decade before the bankruptcy. McMahon wanted to know whether the money was moved in part to ensure a role for the Sacklers in bankruptcy negotiations.But in her ruling Thursday, McMahon focused on whether the bankruptcy law allows releases for third parties when some creditors in the bankruptcy disagree. She also noted that other courts will weigh in on the case."This opinion will not be the last word on the subject, nor should it be. This issue has hovered over bankruptcy law for thirty-five years," she said.

A judge has rejected OxyContin maker Purdue Pharma바카라 게임 웹사이트s bankruptcy settlement of thousands of lawsuits over the opioid epidemic because of a provision that would protect members of the Sackler family from facing litigation of their own.

In a ruling Thursday, U.S. District Judge Colleen McMahon in New York found that federal bankruptcy law does not give the bankruptcy judge who had accepted the plan the authority to grant that kind of release for people who are not declaring bankruptcy themselves.

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The ruling is likely to be appealed by the company, family members and the thousands of government entities that support the plan.

A Purdue spokesperson said Thursday evening that the company was preparing a statement. Representatives of the two branches of the family who own the company did not immediately respond to a request for comment.

Connecticut Attorney General William Tong, who was among a handful of state officials seeking to have the deal undone, called the ruling "a seismic victory for justice and accountability." Tong said the ruling will "re-open the deeply flawed Purdue bankruptcy and force the Sackler family to confront the pain and devastation they have caused."

Purdue sought bankruptcy protection in 2019 as it faced thousands of lawsuits claiming the company pushed doctors to prescribe OxyContin, helping spark an opioid crisis that has been linked to more than 500,000 deaths in the U.S. over the last two decades.

Through the bankruptcy court, it worked out a deal with its creditors. Members of the Sackler family would give up ownership of the company, which would transform into a different kind of entity that would still sell opioids 바카라 게임 웹사이트 but with profits being used to fight the crisis. It would also develop new anti-addiction and anti-overdose drugs and provide them at little or no cost.

Sackler family members also would contribute $4.5 billion in cash and charitable assets as part of an overall deal that could be worth $10 billion, including the value of the new drugs, if they're brought to market.

Government entities and businesses agreed to use any money they receive fighting the opioid epidemic. The deal also calls for millions of company documents, including communications with lawyers, to be made public.

In return, members of the wealthy family would get protection from lawsuits over their role in the opioid crisis 바카라 게임 웹사이트 both the 860 already filed and any others in the future.

Most state and local governments, Native American tribes, individual opioid victims and others who voted said the plan worked out in the bankruptcy court should be accepted.

But the U.S. Bankruptcy Trustee's office, eight state attorneys general and some other entities have been fighting the deal. They argue that it does not properly hold members of the Sackler family accountable and that it usurps states' ability to try to do so.

A bankruptcy court judge approved the plan over the objections in September. But the opponents appealed to McMahon's court.

The main issue on the appeal was the lawfulness of the measures that would extend legal protections to family members.

Such "third-party releases" are not used in most bankruptcy cases, but they are common in cases such as Purdue's, in which the companies involved are burdened with lawsuits and have relatively little value 바카라 게임 웹사이트 but their wealthy owners could contribute.

The Purdue deal would not protect family members from any criminal charges. But so far none have been filed, and there are no signs that any are forthcoming, though some activists are calling for charges.

In a hearing, McMahon focused in on how Sackler family members transferred $10.4 billion from the privately held Stamford, Connecticut-based company over the decade before the bankruptcy. McMahon wanted to know whether the money was moved in part to ensure a role for the Sacklers in bankruptcy negotiations.

But in her ruling Thursday, McMahon focused on whether the bankruptcy law allows releases for third parties when some creditors in the bankruptcy disagree. She also noted that other courts will weigh in on the case.

"This opinion will not be the last word on the subject, nor should it be. This issue has hovered over bankruptcy law for thirty-five years," she said.