US judge grants Purdue Pharma's $7-million executive bonus plan, faces blunt criticism

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US Bankruptcy Judge Robert Drain in White Plains, New York approved up to $7.1 million in bonuses for five executives of Purdue Pharma, the bankrupt maker of OxyContin, at a virtual hearing.

A US judge on Monday approved up to $7.1 million in bonuses for five executives of Purdue Pharma, the bankrupt maker of OxyContin, at a hearing at which he faced blunt criticism for his handling of the case from a woman whose son died of an opioid overdose.

The Sacklers contributed approximately $4.5 billion to the plan, which had wide support from creditors who voted on it, but critics have been angered that the family will retain billion of dollars and never face a public civil trial. During a 30-minute statement to the court, Isaacs delivered a rare courtroom reprimand to the judge, saying it's"well known" that the bankruptcy was filed before Drain because the Sacklers knew he had a history of approving releases like the one they sought.

A representative for the Mortimer Sackler family referred a request for comment to a prior statement disputing allegations made about the family and saying it is"truly sorry for the suffering and loss people have experienced and recognize the anger or hurt that many people have felt."

 

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