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 If U.S. Bankruptcy Judge Robert Drain approves the deal, which
Purdue values at more than $10 billion, it would clear a path to
resolve thousands of opioid lawsuits.
The plan would dissolve the drugmaker and shift assets to a new
company owned by a trust rather than the Sackler family members.
The new company would be run to combat the opioid epidemic in U.S.
communities that alleged Purdue and its owners aggressively marketed
the painkiller OxyContin while playing down its abuse and overdose
risks.
The plan includes legal releases shielding Sackler family members
from future opioid litigation, a controversial provision that some
states opposed.
The Sacklers have denied allegations, raised in lawsuits and
elsewhere, that they bear responsibility for the U.S. opioid
epidemic. They have said they acted ethically and lawfully while
serving on Purdue's board.
The Purdue bankruptcy plan includes a $4.5 billion contribution from
Sackler family members. The contribution is in the form of cash that
would be paid over roughly a decade and also includes $175 million
in value from relinquishing control of charitable institutions.
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 "In our view, the Sacklers are
responsible for extensive harm in Maryland and
nationwide," said Maryland Attorney General
Brian Frosh in a statement on Tuesday. "This
plan allows the Sacklers to enjoy riches
amounting to billions of dollars."
The legal fight will likely drag on beyond
Wednesday's ruling. Connecticut Attorney General
William Tong, who has opposed the plan, is
preparing to appeal if necessary, according to
his office.
The Stamford, Connecticut-based drugmaker
pleaded guilty to criminal charges in November
stemming from its handling of opioids.
(Reporting by Tom Hals in Wilmington, Delaware;
Editing by Noeleen Walder and Bill Berkrot)
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