Bankruptcy Code Does Not Permit Release Of Sackler Family, High Court Rules

(June 27, 2024, 12:38 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court in a 5-4 decision on June 27 held that the Second Circuit U.S. Court of Appeals erred in approving a multibillion-dollar opioid bankruptcy settlement reached by Purdue Pharma L.P. that included a liability release for members of the formerly controlling Sackler family because the U.S. Bankruptcy Code does not authorize such a release....

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