Narrative of Resolution:
title
Authorize County Manager to vote in favor of Chapter 11 Plan of Purdue Pharma L.P.
end
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RESOLUTION INTRODUCED BY THE EXECUTIVE COMMITTEE TO ALLOW THE COUNTY MANAGER TO VOTE IN FAVOR OF THE CHAPTER 11 PLAN OF REORGANIZATION OF PURDUE PHARMA L.P. AND ITS AFFILIATED DEBTORS ("PURDUE"), AND TO PARTICIPATE IN THE SETTLEMENT OF PURDUE'S ESTATE IN BANKRUPTCY AND THE DIRECT SETTLEMENT OF LITIGATION AGAINST PURDUE
WHEREAS, the opioid crises has devastated countless families and communities in Sullivan County; and
WHEREAS, having risen to the status of an epidemic the County of Sullivan wishes to take steps to address this crisis in a meaningful way; and
WHEREAS, many of the opioids placed into the chain of commerce in Sullivan County have been produced by Purdue Pharma ("Purdue") and its affiliates; and
WHEREAS, the County of Sullivan has joined with many other municipalities in prosecuting litigation against several of the manufacturers and distributors of opioids, including, without limitation, Purdue; and
WHEREAS, in 2019, while the litigation against Purdue was pending, Purdue filed for reorganization pursuant to Chapter 11 of the United States Bankruptcy Code; and
WHEREAS, the County of Sullivan, along with many other municipalities, is a claimant against Purdue's estate in bankruptcy (the "Estate"); and
WHEREAS, the parties to the underlying litigation against Purdue have been engaged in settlement negotiations; and
WHEREAS, the proposed settlement of the underlying li...
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