S.Ct. blocks opioid settlement

[mcmurtry66]

I get it but that’s a bummer. States, counties, and munis all over the country were counting on it and it took moving mountains to get the settlement in the first place

Supreme Court upsets $10-billion opioid settlement because it shields the Sacklers

Supreme Court rejects a bankruptcy judge's $10-billion opioid settlement because the Sackler family is not bankrupt.

www.yahoo.com

 

[BradStevens]

I get it but that’s a bummer. States, counties, and munis all over the country were counting on it and it took moving mountains to get the settlement in the first place

Supreme Court upsets $10-billion opioid settlement because it shields the Sacklers

Supreme Court rejects a bankruptcy judge's $10-billion opioid settlement because the Sackler family is not bankrupt.

www.yahoo.com

Here's hoping they get every last dime out of the Sacklers. Hopefully, they, too will be reduced to bankruptcy.

 

[Marvin the Martian]

I get it but that’s a bummer. States, counties, and munis all over the country were counting on it and it took moving mountains to get the settlement in the first place

Supreme Court upsets $10-billion opioid settlement because it shields the Sacklers

Supreme Court rejects a bankruptcy judge's $10-billion opioid settlement because the Sackler family is not bankrupt.

www.yahoo.com

Gorsuch sounds confident this will force the Sacklers to negotiate an even better deal for the victims. I suspect the Sacklers have the resources to hide money very creatively. I imagine storing bitcoin in banks around the world would be awful hard to trace.

 

[BradStevens]

Gorsuch sounds confident this will force the Sacklers to negotiate an even better deal for the victims. I suspect the Sacklers have the resources to hide money very creatively. I imagine storing bitcoin in banks around the world would be awful hard to trace.

Bitcoooooooiiiiiiiiiiiinnnnnnnnnnn!!!!!!!!

 

[mcmurtry66]

Gorsuch sounds confident this will force the Sacklers to negotiate an even better deal for the victims. I suspect the Sacklers have the resources to hide money very creatively. I imagine storing bitcoin in banks around the world would be awful hard to trace.

Victims is misleading. Individuals have not gotten money from the settlements. There is an opt in claim process for states, counties and munis and a formula that dictates how much each gov entity receives. Joey’s mom isn’t getting money for joey’s od

 

[mcmurtry66]

Here's hoping they get every last dime out of the Sacklers. Hopefully, they, too will be reduced to bankruptcy.

I hope so but I don’t like when all the parties agree to something and an outside entity blows it up

 

[BradStevens]

I hope so but I don’t like when all the parties agree to something and an outside entity blows it up

Professional objectors belong in the Ninth Circle of Hell.

 

[mcmurtry66]

Gorsuch sounds confident this will force the Sacklers to negotiate an even better deal for the victims. I suspect the Sacklers have the resources to hide money very creatively. I imagine storing bitcoin in banks around the world would be awful hard to trace.

The monies are restricted for abatement and treatment

 

[mcmurtry66]

Professional objectors belong in the Ninth Circle of Hell.

Exactly but this is worse. At least professional objectors do so on behalf of angry class members. Fake but still. This is someone not a party

 

[ChicagoFineForNow]

For the love of god lay off the Sacklers. We get it, what they did was wrong. Are there no other villains in the world?

Every other movie or series on streaming is tearing apart this family. This is America baby. You make money how you can. Enough already.

 

[BradStevens]

Exactly but this is worse. At least professional objectors do so on behalf of angry class members. Fake but still. This is someone not a party

LOL. No. Professional objectors do so on behalf of themselves. It's a shakedown.

 

[BradStevens]

For the love of god lay off the Sacklers. We get it, what they did was wrong. Are there no other villains in the world?

Every other movie or series on streaming is tearing apart this family. This is America baby. You make money how you can. Enough already.

Figures you'd defend Purdue.

 

[ChicagoFineForNow]

Figures you'd defend Purdue.

I’m kidding of course, but I do find it strange the enormous amount of dramatization in series and film that has been made about this family.

Also think people who blame them almost solely for the opioid epidemic go to far. The vast majority of cases are not people who got hooked on prescription opiods.

 

[BradStevens]

I’m kidding of course, but I do find it strange the enormous amount of dramatization in series and film that has been made about this family.

Also think people who blame them almost solely for the opioid epidemic go to far. The vast majority of cases are not people who got hooked on prescription opiods.

People everywhere for all time want a scapegoat.

What are the vast majority of cases? I haven't watched any of the shows or read about it much.

 

[ChicagoFineForNow]

People everywhere for all time want a scapegoat.

What are the vast majority of cases? I haven't watched any of the shows or read about it much.

I get my Fent from Marcus in Garfield Park.

 

[BradStevens]

I get my Fent from Marcus in Garfield Park.

LOL. I go through Garfield Park every day on my way to work. During summer of 2020 and 21, I would ride my bike straight down and then back Lake Street from Oak Park to LaSalle, through Austin and then Garfield Park, right by drug deals going down.

 

[mcmurtry66]

LOL. No. Professional objectors do so on behalf of themselves. It's a shakedown.

I know. It’s blackmail

 

[Noodle]

I hope so but I don’t like when all the parties agree to something and an outside entity blows it up

All parties did not agree. From today's decision:

Creditors were polled on the proposed plan. Though mostwho returned ballots supported it, fewer than 20% of eligible creditors participated. 21 id., at 6253, 6258. Thousands of opioid victims voted against the plan too, and many pleaded with the bankruptcy court not to wipe out their claims against the Sacklers without their consent. 635 B. R., at 35. “Our system of justice,” they wrote, “demands that the allegations against the Sackler family be fully and fairly litigated in a public and open trial, that they be judged by an impartial jury, and that they be held accountable to those they have harmed.” In re Purdue Pharma L. P., No. 7:21–cv–07532 (SDNY, Oct. 25, 2021), ECF Doc.94, p. 21 (internal quotation marks omitted). The U. S. Trustee, charged with promoting the integrity of the bankruptcy system for all stakeholders, joined in these objections. So did eight States, the District of Columbia, the cityof Seattle, and various Canadian municipalities and Tribes, each of which sought to pursue its own claims against the Sacklers. 635 B. R., at 35.​

 

[mcmurtry66]

All parties did not agree. From today's decision:

Creditors were polled on the proposed plan. Though mostwho returned ballots supported it, fewer than 20% of eligible creditors participated. 21 id., at 6253, 6258. Thousands of opioid victims voted against the plan too, and many pleaded with the bankruptcy court not to wipe out their claims against the Sacklers without their consent. 635 B. R., at 35. “Our system of justice,” they wrote, “demands that the allegations against the Sackler family be fully and fairly litigated in a public and open trial, that they be judged by an impartial jury, and that they be held accountable to those they have harmed.” In re Purdue Pharma L. P., No. 7:21–cv–07532 (SDNY, Oct. 25, 2021), ECF Doc.94, p. 21 (internal quotation marks omitted). The U. S. Trustee, charged with promoting the integrity of the bankruptcy system for all stakeholders, joined in these objections. So did eight States, the District of Columbia, the cityof Seattle, and various Canadian municipalities and Tribes, each of which sought to pursue its own claims against the Sacklers. 635 B. R., at 35.​

That’s how it has been with the other settlements with both manufacturers and distributors. There are non participating states, counties etc. bankruptcy muddied it

 

[Marvin the Martian]

All parties did not agree. From today's decision:

Creditors were polled on the proposed plan. Though mostwho returned ballots supported it, fewer than 20% of eligible creditors participated. 21 id., at 6253, 6258. Thousands of opioid victims voted against the plan too, and many pleaded with the bankruptcy court not to wipe out their claims against the Sacklers without their consent. 635 B. R., at 35. “Our system of justice,” they wrote, “demands that the allegations against the Sackler family be fully and fairly litigated in a public and open trial, that they be judged by an impartial jury, and that they be held accountable to those they have harmed.” In re Purdue Pharma L. P., No. 7:21–cv–07532 (SDNY, Oct. 25, 2021), ECF Doc.94, p. 21 (internal quotation marks omitted). The U. S. Trustee, charged with promoting the integrity of the bankruptcy system for all stakeholders, joined in these objections. So did eight States, the District of Columbia, the cityof Seattle, and various Canadian municipalities and Tribes, each of which sought to pursue its own claims against the Sacklers. 635 B. R., at 35.​

How do the lawyers get paid? This might drag on quite a bit longer. The plaintiff attorneys will have more billable hours. Does that come out of the settlement amount, or a different pool.

In other words, could the settlement be enhanced yet people receive less?

 

[mcmurtry66]

How do the lawyers get paid? This might drag on quite a bit longer. The plaintiff attorneys will have more billable hours. Does that come out of the settlement amount, or a different pool.

In other words, could the settlement be enhanced yet people receive less?

15 percent contingency cap for the most part

 

[mcmurtry66]

How do the lawyers get paid? This might drag on quite a bit longer. The plaintiff attorneys will have more billable hours. Does that come out of the settlement amount, or a different pool.

In other words, could the settlement be enhanced yet people receive less?

People aren’t getting anything. Gov entities

 

[Marvin the Martian]

People aren’t getting anything. Gov entities

Claimants with evidence of less than six months of Purdue opioid are to receive a $3,500 base payment. Individuals showing more than six months of Purdue opioid use qualify for the next tier, with the top tier being those who can demonstrate Purdue opioid addiction or death on OxyContin.

Opioid Victims Struggle With Purdue Pharma Settlement’s High Bar

Relatives of opioid overdose victims say stringent documentation requirements are effectively locking them out of making bankruptcy claims against OxyContin maker Purdue Pharmaceuticals.

news.bloomberglaw.com

 

[mcmurtry66]

Claimants with evidence of less than six months of Purdue opioid are to receive a $3,500 base payment. Individuals showing more than six months of Purdue opioid use qualify for the next tier, with the top tier being those who can demonstrate Purdue opioid addiction or death on OxyContin.

Opioid Victims Struggle With Purdue Pharma Settlement’s High Bar

Relatives of opioid overdose victims say stringent documentation requirements are effectively locking them out of making bankruptcy claims against OxyContin maker Purdue Pharmaceuticals.

news.bloomberglaw.com

interesting. that's not how it's been with J&J and the distributors settlements

FAQ – National Opioids Settlement

https://moopioidsettlements.dmh.mo.gov/PublicReports/AnnualReport

 

[BradStevens]

How do the lawyers get paid? This might drag on quite a bit longer. The plaintiff attorneys will have more billable hours. Does that come out of the settlement amount, or a different pool.

In other words, could the settlement be enhanced yet people receive less?

Marvin, my friend, if there is one thing I am sure of in this thing, it is that the lawyers will be paid and that they will be paid well.

 

[UncleMark]

Marvin, my friend, if there is one thing I am sure of in this thing, it is that the lawyers will be paid and that they will be paid well.

The judges always make sure of that. They're all in the same fraternity.

 

[BradStevens]

The judges always make sure of that. They're all in the same fraternity.

Not always. But bk judges do.

 

[UncleMark]

Not always. But bk judges do.

You can't bankrupt taxes, student loans, and legal fees. The government and the lawyers always get theirs.

 

[Noodle]

That’s how it has been with the other settlements with both manufacturers and distributors. There are non participating states, counties etc. bankruptcy muddied it

It’s a bankruptcy. Everyone is a participant, whether a state or an individual.

 

[mcmurtry66]

It’s a bankruptcy. Everyone is a participant, whether a state or an individual.

I get that. This is one of many settlements with manufacturers and distributors. The national opioid settlements have not included individuals. Just political subdivisions. The bankruptcy is the fly in the ointment here. The other cases have settled with countless subdivisions either failing to participate or simply missing the boat. Second largest public health settlement in history. Wild stuff