With the case stretching out, the legal costs continue to mount, too. While most of Purdue's creditors have signed onto the settlement, the U.S.
The lawyer, Arik Preis, wrote that as long as the funds aren't distributed, “the vast majority of more than $6 billion that could be put to use to abate the opioid crisis and compensate individual claimants continuing to accrue interest in Sackler accounts.” bankruptcy court in another filing this week that the wait is a problem for other reasons. At the hearing last year, there were signs that the three-judge panel might not rule unanimously.Ī lawyer for creditors told a U.S. While it’s not unusual for an appeals panel to take a year or more from a hearing until it releases a decision, this case was originally fast-tracked by the court.
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Circuit Court of Appeals in New York to issue a ruling or provide an update soon, saying the efforts to use the funds to fight the opioid crisis can't begin until the money can start to flow. Lawyers on multiple sides of the case, including those representing Purdue, asked the 2nd U.S. This week - days before the one-year anniversary of the April 29, 2022, appeals court arguments on the matter - lawyers told judges that the wait is causing problems.
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