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(Reuters) - Lawmakers heard arguments on Wednesday in favor of amending laws to limit protections for non-bankrupt individuals through a company’s bankruptcy, a move prompted by concerns that members of the wealthy Sackler family who own Purdue Pharma LP may avoid accountability for their role in promoting opioid sales.
A pharmacist holds a bottle OxyContin made by Purdue Pharma at a pharmacy in Provo, Utah. REUTERS/George Frey
The hearing before the U.S. House of Representatives’ Judiciary’s Subcommittee on Antitrust, Commercial and Administrative Law came as Senator Elizabeth Warren, a Democrat from Massachusetts, along with Democratic Senators Dick Durbin of Illinois and Richard Blumenthal of Connecticut, as well as Democratic U.S. Representatives Jerry Nadler and Carolyn Maloney, both of New York, announced legislation in the House and Senate aimed at reforming certain areas of bankruptcy law.