Mallinckrodt Gets Final OK For $250M Ch. 11 Financing
By Emily Lever · September 20, 2023, 7:28 PM EDT
Drugmaker Mallinckrodt received final approval Wednesday in Delaware bankruptcy court for $250 million of Chapter 11 financing from its prepetition secured lenders, despite one creditor's objection over proposed management bonuses....
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