Purdue University, the bankruptcy, strives for time to promote the 7.4 billion U.S. opioid drug transactions
Ditrich Noss
New York (Reuters) -Purdue Pharmaceutical Company said on Friday that it needs more time to support the new reconciliation of $ 7.4 billion, which may complete the company for many years to solve its addiction and painkillers The efforts of thousands of lawsuits.
The company still needs to finalize the remaining details and seek the support of the state, local governments and other creditors. These creditors sue the company and its saxophone family due to the role played by the American epidemic in the United States.
Purdue University Lawyer Benjamin Kaminetsky said at a court hearing held at Cyprinus, New York that the company “almost completed” a transaction announced by several states' prosecutors on Thursday, A formal bankruptcy plan will be proposed before the end of February.
Sean Lane, who is responsible for supervising the Purdue University Bankruptcy Law Chapter 11 litigation procedure, said the company is making specific progress in reaching an agreement and approved the suspension of all opioid drugs for the sacrifice family. The request of the lawsuit was suspended at least at the end of February.
Since the Sacleria family and Purdue University entered Chapter 11 of 2019, the bankruptcy case has stopped responding to the company's lawsuits, and in recent months, Lane has repeatedly extended the suspension period of the litigation.
Ryan said on Friday: “We have been doing this for some time, I hope we will end.”
In 2019, Purdue University applied for bankruptcy and faced thousands of lawsuits, accusing the company and members of the Sacle family to promote this discharge through Oshcon's deceptive marketing. Pharmaceutical manufacturers, distributors, pharmacy operators and other parties have collectively agreed to pay about 50 billion US dollars to resolve similar lawsuits and investigations related to the American opioid drug crisis.
This new agreement was supported by 15 states, providing new opportunities for the company to reject the previous opioid drug reconciliation agreement in the US Supreme Court to reject the previous opioid drug reconciliation agreement. However, before the solution was approved and the funds began to flow to the states, communities and individuals injured by crisis, it faced a long and uncertain way.
The transaction has not been reviewed by most creditors of Purdue University, including states, local governments, and individuals that have made legal claims on the Sacre family.
David Nachman, a lawyer on behalf of New York State, said the main terms of the settlement agreement will be announced next week. States in New York State, California, Texas, and West Virginia are distributing the agreement to other states to encourage them to support the agreement.