The justices paused bankruptcy proceedings concerning Purdue and its affiliates and said they would hold oral arguments in December in the administration’s appeal of a lower court’s ruling upholding the settlement. The Supreme Court’s new term begins in October.
“We are confident in the legality of our nearly universally supported plan of reorganization, and optimistic that the Supreme Court will agree,” the company added.At issue is whether U.S. bankruptcy law allows Purdue’s restructuring to include legal protections for the members of the Sackler family, who have not filed for personal bankruptcy.
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