Reported 9 months ago
A recent Supreme Court ruling overturned a $6 billion opioid settlement involving Purdue Pharma and the Sackler family, making it tougher for owners of bankrupt companies to escape legal responsibility. The decision stated that bankruptcy proceedings cannot shield personal fortunes from liability, impacting all company owners. The ruling emphasizes that bankruptcy court powers are limited and owners must either file bankruptcy or settle with claimants, strengthening the economic power of claimants.
Source: YAHOO