AGs Back Bid To Close Sackler Family's Liability Loophole

Law360 (June 8, 2021, 4:14 PM EDT) -- A bipartisan pair of attorneys general on Tuesday urged lawmakers to close a Bankruptcy Code loophole that could help members of the Sackler family avoid civil liability for their role in the opioid crisis through Purdue Pharma LP's bankruptcy case.

In testimony before the House Committee on Oversight and Reform, Massachusetts Attorney General Maura Healey, a Democrat, and Idaho Attorney General Lawrence Wasden, a Republican, called on lawmakers to pass the Sackler Act, which would prevent individuals from obtaining liability releases for themselves without personally seeking bankruptcy protection.

"The one thing I don't think Congress contemplated in writing the Bankruptcy Code was...

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