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Supreme Court's Rejection of Purdue Pharma Settlement Redefines Releases In Chapter 11
[Editor's Note: The Supreme Court's decision in the Purdue Pharma bankruptcy case was released just as this issue of The Bankruptcy Strategist was going to press, so we present this analysis from our ALM sibling Daily Business Report. We'll have more in-depth analysis in upcoming issues.]
The U.S. Supreme Court has issued its most anticipated bankruptcy decision in recent memory. As the case's name — Hamilton v. Purdue Pharma — suggests, it stems from the company (Purdue Pharma) and the family (the Sacklers) at the center of the opioid pandemic that has claimed the lives of approximately 247,000 Americans from 1999 to 2019 alone.
Purdue ran to bankruptcy court to funnel thousands of lawsuits across the country to a single forum: the bankruptcy court.
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