Streator to support Purdue Pharma’s Chapter 11 Plan of Reorganization

 

STREATOR – The city of Streator is planning to vote in favor of Perdue Pharma’s reorganization plan pertaining to their opioid lawsuit. Purdue Pharma recently began soliciting votes for its Chapter 11 bankruptcy plan and reorganization. According to Perdue Pharma, the Plan will deliver more than $10 billion in value, including providing, at cost, millions of doses of opioid addiction treatment and overdose reversal medicines. Once Perdue is dissolved, The new company will ultimately be owned by a new National Opioid Abatement Trust. In addition, the previous Perdue Pharma owners have agreed to pay over $4.2 billion dollars to resolve civil claims. City Manager Dave Plyman says communities like Streator have been harmed by the opioid crisis and if money is being flowed back to cities affected he wants to make sure Streator gets its share.