Last night, we offered a look at the path to reopening the settlements by which the Sacklers are in the final throes of largely escaping with billions -- while holding both the shield of a bankruptcy protection against future suits -- and using it as a sword, to sever off the bulk of their wealth (and keep it), by transfers to offshore accounts (in a complicated series of tax minimizing transactions), between 2008 and 2018. Certainly by 2014, it was clear that there would be litigation, and that Purdue would likely be unable to pay in full. But the Sacklers kept draining it of cash, quarter after quarter. [Click the image to embiggify.]
Above is what the currently proposed payouts contemplate. Note that on Line 1 above, the "shareholders" are primarily the Sacklers. Note also that they have offshored over $10 billion from 2008 to 2018 -- to escape the reach of the bankruptcy statute, and private lawsuit plaintiffs.
I'll fall silent now, and await more from the able USDC Judge in Manhattan next week. Onward.
नमस्ते
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