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County attorneys recommend approving Purdue Pharma bankruptcy plan; supervisors agree to consider ballot
Summary
County counsel recommended the Board vote to accept the revised Purdue Pharma bankruptcy plan, which includes corporate and Sackler family contributions, and to submit Johnson County's ballot; supervisors directed staff to bring formal approval next week.
Ryan Moss, assistant county attorney, briefed the Board about the revised Purdue Pharma bankruptcy plan and recommended Johnson County vote to accept it in the bankruptcy proceeding. He described the plan as a combined package of Purdue business assets and additional funding from the Sackler family valued at about $8 billion to be paid over 15 years under maximum participation scenarios that would allocate approximately $5.4 billion to states and municipalities.
Moss said the plan had been restructured after U.S. Supreme Court guidance to ensure the settlement conforms to bankruptcy law and noted broad support from unsecured creditor and state attorney general committees. "There's broad stakeholder consensus in support of approving the Purdue Bankruptcy Plan as proposed," he said, urging the county to submit its eBallot.
Supervisors directed the county attorney's office to prepare the ballot for formal approval at the next meeting; no final vote was taken at this work session. Moss emphasized the plan addresses civil claims and does not preclude criminal proceedings and recommended using the provided eBallot to register Johnson County's position.
