> Well, they appear to be going bankrupt already unless I'm missing something and turning over all these assets to the bankruptcy court? At least that's what the article seemed to indicate, it wasn't overly clear on the details.
No, none of the people getting immunity are filing for bankruptcy, which is one of the absolutely ridiculous parts of this settlement. Why should a bankruptcy settlement even apply to them if that's the case?
Admittedly I can't be sure of how much of their wealth is or isn't tied up in the bankruptcy--though I think the same is also true of everyone else here--but if they're anything like most others who own large companies, it represents a significant fraction of their net worth and it's about to be worthless.
Bankruptcy court is pretty much always like this, though. I remember the same kinds of things coming up during, e.g., SCO.
From a Bloomberg article I read, approximately $200 million will come from a family foundation, $3 billion will come from a forced sale of some international companies they own, and the remainder of the settlement from their vast array of trusts and other investments worth...approximately $8-9 billion dollars. So while the settlement is a large amount, it amounts to no practical impact for the family, which is why so many people think it's unjust. They will still have a huge amount of dynastic wealth and will not need to make any changes to their extravagant lifestyles whatsoever. Boohoo, the dynastic wealth will only enable the next 6 generations of Sacklers to be entitled pieces of shit instead of the next 8.
No, none of the people getting immunity are filing for bankruptcy, which is one of the absolutely ridiculous parts of this settlement. Why should a bankruptcy settlement even apply to them if that's the case?