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Board authorizes city attorney to join Purdue Pharma bankruptcy plan
Summary
The Board authorized the city attorney to file a claim and participate in the Purdue Pharma bankruptcy settlement process, which proposes a multi-billion-dollar trust structure to compensate states, localities, tribes and others.
The Board of Public Works and Safety voted Aug. 4 to authorize the city attorney to participate in the Purdue Pharma bankruptcy plan and to file a claim on behalf of the city. City Attorney Lynn Gray told the board the Sackler family and Purdue Pharma have proposed a $6.5 billion settlement to be placed into trusts and distributed to states, local governments, tribes, health-care providers, public schools and emergency-room claimants over the next 15 years. "Those 6,500,000,000.0 will be paid in 16 installments…
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