STAMFORD, Conn. — A federal bankruptcy court on Thursday indicated it will approve Purdue Pharma’s plan to emerge from bankruptcy, a move expected to provide billions of dollars for opioid crisis relief and victim compensation.

In July, State Attorney General JB McCuskey said West Virginia could recevie more than $50 million under the plan.

The Chapter 11 plan, which received support from more than 99% of voting creditors, will also transfer Purdue’s assets to a new, independent company called Knoa Pharma, which will focus on producing opioid treatment and overdose reversal medications.

“Today is a landmark day, representing the culmination of a six-year bankruptcy and mediation process,” Purdue Board Chairman Steve Miller said. “The plan unlocks billions in recoveries and significant p

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