Vermont won't join states backing Purdue Pharma bankruptcy plan

MONTPELIER, Vt. (WFFF) — New York is expected to receive at least $200 million after it joined 14 other states in dropping opposition to a bankruptcy plan filed by Purdue Pharma, the maker of OxyContin. But Vermont is yet to get on board. Attorney General TJ Donovan said the state will continue to object to the company's plan.

"The idea that billionaires can use their wealth go to bankruptcy court and have their cases dismissed from a state—because they're essentially putting money toward the deal in bankruptcy court—I find objectionable."

TJ Donovan
Attorney General of Vermont

The terms of the settlement require the Sackler family to give up ownership of the company and for Purdue to turn over millions of pages of documents. New York Attorney General Leticia James says the plan is far from ideal, but at least holds Purdue and the Sackler family, which agreed to pay $4.2 billion, accountable.

"I don't think any of us will say this deal is perfect," James said. "But, we can't let perfect be the enemy of the good. We can't let perfect be the enemy of getting results."

The agreement includes 13 other states, including Massachusetts, Maine, and New Jersey.

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