The U.S. Supreme Court is considering a controversial $6 billion bankruptcy deal involving Purdue Pharma, the company behind OxyContin.
The deal shields the Sackler family from civil claims by victims and their families.
The Biden administration argues that the deal is illegal because it prevents some victims from suing the Sackler family. (Trending: Democrat Accused Of Blocking Release of Jeffrey Epstein Flight Logs)
Justices expressed concern about the impact on victims if the deal is undone, with some suggesting that rejecting the deal could leave victims with nothing.
Justice Justice Brett Kavanaugh said, “I think the problem, and maybe the disconnect between you and the opioid victims is you’re implying, or saying, ‘Oh if you just reject this plan, there’s gonna be more money available down the road from the Sacklers.”
“And I don’t think you’re accounting for uncertainty of liability first of all, … and the uncertainty of recovery,” he continued.
Adding, “And the point of this provision, as it’s been applied for 30 years, is to take into account those uncertainties in thinking if this is an appropriate settlement.”
Justice Elena Kagan said, “It’s overwhelming, the support for this deal, and among people who have no love for the Sacklers.”
“Your position rests on a lot of highfalutin principles of bankruptcy law … that you can come in here and blow up the deal,” she continued.
“The federal government is standing in the way against a huge, huge majority of claimants who have decided that if this provision goes under, they’re going to end up with nothing,” concluded Justice Kagan.
Moreover, Pratik Shah, a lawyer for some of those victims, argued before the court that without the bankruptcy deal, virtually every victim would end up with “zero dollars.”
“I think this is critically important: whatever is available from the Sacklers – whether that’s $3 billion, $5 billion, $6 billion, $10 billion – there are about $40 trillion in estimated claims,” he said. “As soon as one plaintiff is successful, that wipes out the recovery for every other victim. … That is why 97% of the victims agreed to this non-consensual release. They have no love lost for the Sacklers. There is no body of victims, no one who would more like to have retribution against the Sacklers.”
However, some victims disagree with the deal and want their day in court, feeling that the Sackler family is directly liable for their suffering.
If the deal stands, the Sackler family, who did not declare personal bankruptcy, will retain billions of their personal fortune.
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