Mallinckrodt Cleared To Tap Into $250M Of Ch. 11 Financing
By Vince Sullivan · August 30, 2023, 6:51 PM EDT
Drugmaker Mallinckrodt PLC received permission Wednesday in Delaware bankruptcy court to tap into $250 million of Chapter 11 financing after the judge presiding over the case had his concerns about large...
Irish drugmaker Mallinckrodt filed its second Chapter 11 in three years to resolve $1.9 billion in secured debt from its first reorganization. The company said it plans to reduce its total commitement to a legacy opiod liability fund and execute a debt-for-equity swap to hand control to its first and second lien lenders coming out of reorganization.
Case Number
23-bk-11258
Judge
John Dorsey
Venue
U.S. Bankruptcy Court for the District of Delaware