The nameless masses’ profits from the misery of opioids were smaller and less direct than the Sacklers. While numerous other individuals were involved in creating the opioid crisis, the other individuals are largely nameless and faceless corporate employees, not the billionaire owners of a major opioid manufacturer. Their fate is a metonym for justice for opioid victims.

Any financial recovery from the Sacklers-potentially billions-could have been used to compensate opioid victims and their families and fund opioid abatement efforts.įrom a dignitary justice perspective, the Sacklers are the face of the pharmaceutical industry for the opioid crisis they are the only readily identifiable set of people to have been blamed for the crisis. The question of the Sackler’s responsibility was both a financial issue and a matter of dignitary justice. Purdue was a closely held company, and the Sacklers were, according to a top Purdue Pharma executive, Purdue’s “de facto CEO.” The Sacklers also received as much as $13 billion in dividends and other payments from Purdue over the years, including after Purdue’s contribution to the opioid crisis became clear. The key question in the Purdue bankruptcy was whether Purdue’s owners-the immensely wealthy Sackler family, whose names grace major museums-would be held responsible for Purdue’s actions. Purdue, the manufacturer of Ox圜ontin, was at the heart of the opioid crisis that was, prior to the COVID-19 pandemic, America’s deadliest public health crisis. Purdue Pharma’s bankruptcy is perhaps the most socially important bankruptcy case in history. This situation enables debtors to push through overreaching restructuring transactions that benefit favored creditors and allies at the expense of disfavored creditors, like the opioid victims in Purdue. Their convergence, however, results in a broken legal system in which a single non-Article III judge of the debtor’s choosing is the only real check on what the debtor can do in Chapter 11. While each of these trends is problematic in its own right, standing alone they do not undermine the fundamental fairness of the bankruptcy system. Purdue represents the confluence of three trends in bankruptcy: (1) increasingly aggressive and coercive restructuring techniques like the poison pill that lock in the determination of subsequent decisions in the bankruptcy (2) the lack of appellate review for many key bankruptcy issues and (3) the rise of “judge-shopping,” facilitated by bankruptcy courts’ local rules that enable debtors to handpick their judge. This Article argues that Purdue illustrates how the procedural checks and balances that make Chapter 11 bankruptcy a fair and credible system have broken down. Purdue Pharma, the bankrupt drug manufacturer at the center of the opioid crisis, settled its civil and criminal liability for opioid harms with the Department of Justice in a deal that contained a “poison pill” that prevented creditors from objecting to any subsequent plan of reorganization for Purdue: if creditors exercised their rights and pushed for Purdue’s liquidation, they would forfeit all of Purdue’s value to the Department of Justice. Pirate or Treasure Then you can Type ‘ Pirate‘ Or ‘ Treasure‘ or any word from the answer to know the whole phrase.Purdue’s Poison Pill: The Breakdown of Chapter 11’s Checks and Balances If you have already solved any word from the level for eg. Use the search box on the table to quickly find the correct answer.

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