News & Insights
John Richer for USA Today - Supreme Court throws out multi-billion dollar settlement with Purdue over opioid crisis
June 2024
USA Today
Bankruptcy expert John Richer said the "ideologically scrambled" decision meant that a proposed bankruptcy settlement aiming to prevent all future litigation against the owners of Purdue Pharma − without filing for personal bankruptcy − was "a bridge to far under the bankruptcy code.”
“This ruling, while disappointing to the victims of the opioid crisis who were slated to receive billions in settlement funds, will add clarity in future Chapter 11 cases involving non-debtor releases,” said Richer, a lawyer at Hall Estill.
