A Delaware bankruptcy judge Tuesday overrode lender and equity holders' objections to Mallinckrodt PLC's Chapter 11 plan, clearing the way for the drugmaker to exit its second bankruptcy in three years....
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