Enhancements to a settlement between the Sackler family, owners of bankrupt drugmaker Purdue Pharma LP, and 9 government entitites were approved in a N.Y. court that will result in the Sacklers contributing $5.5 billion to opioid abatement trusts, if confirmed.
The enhancement was part of a deal with the Sacklers and eight states and the District of Columbia to resolve objections to a Chapter 11 plan confirmed in September 2021. The plan was vacated after the government entities appealed confirmation, and the court found that nonconsensual third-party releases are statutorily impermissible, according to Law360.
