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Coppell council votes to accept latest Purdue Pharma Chapter 11 reorganization plan
Summary
Council authorized the mayor to vote to accept the thirteenth amended joint Chapter 11 plan in the Purdue Pharma bankruptcy, securing Coppell’s share of settlement funds tied to opioid litigation.
The Coppell City Council on Sept. 9 voted to accept the thirteenth amended joint Chapter 11 plan of reorganization for Purdue Pharma in the company’s bankruptcy, authorizing the mayor to cast the city’s acceptance ballot. Background: Purdue Pharma and related entities were defendants in litigation tied to the marketing and sale of opioid prescriptions. As part of nationwide settlements, municipalities were allocated funds to support addiction recovery,…
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