Supreme Court Considers Purdue Pharma Bankruptcy Plan
Arguments Focus on Fairness to Victims of OxyContin Abuse
Washington, D.C. -
The Supreme Court on Monday heard arguments over a bankruptcy deal for Purdue Pharma, the company behind the invention of OxyContin, one of the most addictive prescription opioids in history. The plan, which has been approved by a lower court, would allow Purdue Pharma to settle its opioid-related lawsuits by creating a $10 billion trust fund for victims of the opioid crisis. However, some victims and their families are challenging the plan, arguing that it is unfair and that Purdue Pharma should be held accountable for its role in fueling the opioid epidemic.
Chief Justice John Roberts questioned whether the bankruptcy plan was fair to victims who have suffered from opioid addiction and overdose. Roberts noted that the plan would release Purdue Pharma from liability for its past conduct and would allow the Sackler family, which owns the company, to retain a significant amount of their wealth.
Justice Elena Kagan expressed concern about the lack of transparency in the bankruptcy process. She noted that the plan was approved by a bankruptcy judge without a full trial and that many of the details of the plan are not publicly available. Kagan said that she was concerned that the plan could be used to shield Purdue Pharma from accountability.
The arguments lasted for more than two hours, and the justices seemed divided on the issue. A decision is expected in the coming months.
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