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Connecticut diocese files for bankruptcy amid abuse claims
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Connecticut diocese files for bankruptcy amid abuse claims
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The Day - Diocese of Norwich files for Chapter 11 bankruptcy - News from southeastern Connecticut
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Connecticut diocese files for bankruptcy amid abuse claims
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BENNINGTON â The Select Board reluctantly agreed Monday to accept terms of a multi-billion dollar settlement of complex bankruptcy proceedings and other litigation focused on OxyContin manufacturer Purdue Pharma and the companyâs founders and owners, the Sackler family.
Some 3,000 lawsuits by municipal, state, county and other entities, including Bennington and Brattleboro and the state of Vermont, were consolidated and have been the subject of ongoing negotiations in U.S. Bankruptcy Court in White Plains, N.Y.
The most recent talks have focused on proposed changes to a company bankruptcy plan that now calls for Sackler family members to contribute $4.5 billion in cash and other assets, while not admitting any wrongdoing, the Associated Press reported.