The Greenwich residence was previously transferred between family trusts to help generate funding for an initial $62 million settlement payment. Although the judge declined an immediate eviction, the court warned that future occupancy measures or sanctions remain possible if disputes drag on. Logistical challenges persist because Lin Gao and her children still reside on the premises alongside valuable artwork intended for potential liquidation. Counsel representing Sackler and Gao confirmed they intend to appeal the decision allowing the sale to move forward.
Key points
Pledged family assets will remain available to fulfill the terms of the $7.4 billion opio…: Pledged family assets will remain available to fulfill the terms of the $7.4 billion opioid settlement.
Current residents and stored artwork continue to complicate physical preparations for the…: Current residents and stored artwork continue to complicate physical preparations for the court-approved property sale.
Attorneys representing Richard Sackler and Lin Gao intend to appeal the bankruptcy court'…: Attorneys representing Richard Sackler and Lin Gao intend to appeal the bankruptcy court's latest ruling.
Sources checked by our analysis pipeline: 1
A grand Greenwich residence is rarely the kind of place one expects to find at the centre of a bankruptcy dispute. Yet Richard Sackler and Lin Gao’s Connecticut mansion has become one of the most closely watched properties in the continuing financial fallout from Purdue Pharma and the US opioid crisis. The home at 60 Field Point Circle is now tied to the Sackler family’s obligations under a $7.4 billion settlement involving opioid claimants. On October 28, US Bankruptcy Judge Sean Lane rejected efforts by Sackler and Gao to prevent the property from being sold, keeping the mansion within the pool of assets being used to fund the settlement. Reuters reports that Lane had previously determined the Greenwich residence was among the assets pledged by Sackler family members as collateral for their commitments under the agreement.
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The property dispute is only one part of a much broader reckoning involving the family that once owned Purdue Pharma. The pharmaceutical company became one of the most recognisable names in the opioid crisis through…
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