$100m settlement reached over meningitis cases
By Todd Wallack
| Globe Staff May 06, 2014
Bankruptcy lawyers have reached a settlement worth more than $100 million with insurers and the family that owns the defunct Framingham pharmacy that manufactured tainted drugs blamed for killing 64 people and sickening hundreds more in 2012, a deal that paves the way to eventually providing compensation for victims.
Under the proposed settlement filed in US Bankruptcy Court in Boston on Tuesday, New England Compounding Center owners Barry Cadden and his wife, Lisa Conigliaro Cadden, will contribute $21 million to a fund for creditors. Lisa’s sister-in-law and co-owner Carla Conigliaro will add $24 million, and Lisa’s brother and co-owner Greg Conigliaro will contribute $2.75 million.
Bankruptcy lawyers have reached a settlement worth more than $100 million with insurers and the family that owns the defunct Framingham pharmacy that manufactured tainted drugs blamed for killing 64 people and sickening hundreds more in 2012, a deal that paves the way to eventually providing compensation for victims.
Under the proposed settlement filed in US Bankruptcy Court in Boston on Tuesday, New England Compounding Center owners Barry Cadden and his wife, Lisa Conigliaro Cadden, will contribute $21 million to a fund for creditors. Lisa’s sister-in-law and co-owner Carla Conigliaro will add $24 million, and Lisa’s brother and co-owner Greg Conigliaro will contribute $2.75 million.
continue to read here
No comments:
Post a Comment