How opioid drugmaker Insys could avoid paying a $225 million settlement to the U.S. government: by lisettevoytko
How can Insys avoid paying the settlement?Wall Street Journal
, by filing for Chapter 11, Insys can effectively put the U.S. government in a line with other creditors seeking repayment. The DOJ will likely not be prioritized over other creditors, such as lawyers who defended the convicted Insys executives. The bankruptcy filing turns the settlement into unsecured debt, meaning there is no additional security or collateral to ensure payment to the U.S. government.
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