Sacklers offer additional $1.6 billion for Purdue Ch. 11 settlement

By Rick Archer (February 18, 2022, 3:56 PM EST) – The mediator overseeing negotiations for a new Chapter 11 plan for Purdue Pharma reported Friday that the drugmaker’s former owners in the Sackler family have agreed to add more $1.6 billion to the $4.3 billion settlement they allegedly paid under the company’s earlier and scuttled bankruptcy plan.

In her report filed with the New York Bankruptcy Court, U.S. Bankruptcy Judge Shelley C. Chapman said the proposal had been accepted by most of the nine state governments mediating with the Sacklers and Purdue, but not by all, and requested that the mediation be extended. until the end of February…

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