Noteholders, Shareholders Call Mallinckrodt Ch. 11 Plan Unfair

By Rick Archer · September 27, 2023, 8:09 PM EDT

Secured creditors and shareholders of Mallinckrodt are asking a Delaware bankruptcy judge to reject the Irish drugmaker's new Chapter 11 plan, saying they are being shortchanged in favor of unsecured opioid...

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Bankruptcy Scorecard

Summary

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

Capital Structure

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Documents

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Case Information

Case Title

Mallinckrodt plc

Case Number

1:23-bk-11258

Court

Delaware

Nature of Suit

Date Filed

August 28, 2023

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