Credit: JHVEPhoto/Adobe Stock Supreme Court Blocks Purdue Pharma's $6B Bankruptcy Plan Over Sackler Protections
While recognizing the broad power of bankruptcy judges to discharge a debtor's debts, the court said "nothing permits a court to wipe a slate clean" for nondebtors such as the Sacklers when it comes to the future claims of third parties.
June 27, 2024 at 01:30 PM
4 minute read
United States Supreme Court
The original version of this story was published on National Law Journal
The U.S. Supreme Court on Thursday blocked a $6 billion bankruptcy plan for Purdue Pharma, the maker of OxyContin, over its inclusion of controversial legal protections for members of the Sackler family who as the company's owner allegedly helped fuel the opioid crisis.
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