U.S. Supreme Court justices showed uneasiness on Monday regarding the issue of blocking a $6 billion bankruptcy plan for Purdue Pharma. The pharmaceutical company, known for producing OxyContin, has proposed a controversial plan that includes provision of legal immunity for the handling of the opioid crisis for the Sackler family, who were the proprietary heads of the company.
The Chapter 11 plan brings to question the release of legal liability for the Sackler family, who in return, are contributing up to $6 billion to support the victims of the opioid crisis. This plan faces opposition from the U.S. Trustee Program, a branch within the Department of Justice, whose jurisdiction includes the oversight of the bankruptcy system.
Despite the federal government’s contention to the plan, it is worthy to note that the proposal has gathered a broad range of support from the victims of the opioid crisis. High court members duly noted this amidst their deliberation.
To learn more about this ongoing legal development, you might want to read further on it here.