Mallinckrodt Says Ch. 11 Was Needed Due To Debt Maturities
By Vince Sullivan · October 4, 2023, 8:58 PM EDT
Bankrupt drugmaker Mallinckrodt told a Delaware judge Wednesday that its second Chapter 11 filing was a necessary step to address upcoming debt maturities, and its restructuring plan was a good-faith effort...
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