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Council authorizes village approval of Purdue Pharma bankruptcy settlement plan
Summary
Council authorized a motion allowing the village to approve the Purdue Pharma bankruptcy plan; the plan would participate in national opioid settlement funds tied to the Purdue/Boston Scientific reorganization and Sackler family payments, and finance committee recommended approval to secure state and local distributions.
Council voted to authorize village approval of the Purdue Pharma bankruptcy plan as part of the larger opioid settlement process. Councilmember Melissa (surname not recorded in the excerpt) asked counsel for a motion authorizing the village to approve the plan; she said Ohio is seeking broad local government approval and that the Sackler family payment stream and a reconstituted public‑purpose company are central features of the proposed plan.
The motion passed by voice vote. Finance committee members said the plan’s approval is one of several settlement steps that will allow local governments to receive distributions of settlement funds designed to address opioid addiction. The council’s action authorized the village’s assent to the plan as discussed at the meeting; no specific local receipt amounts were calculated at the meeting.
