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The new deal would leave opioid creditors with $1 billion less than the $1.7 billion settlement that Mallinckrodt agreed to pay as part of its 2022 exit from the company's earlier bankruptcy ...
On July 27, 2023, Mallinckrodt announced that they were in negotiations to completely avoid paying the opioid payment to victims. If this plan turns out successful, victims of the opioid payment could lose up to a maximum of $1 billion, and the money could end up going to funds and investors instead. [52]
Drugmaker Mallinckrodt on Monday filed for its second bankruptcy in three years in the United States, with a restructuring plan that would cut $1 billion from what it owes to victims of the opioid ...
Shares of the company rose 53.3% to 69 cents in afternoon trade. As part of a prearranged deal, Mallinckrodt will propose to write off about $1 billion from what it still owes to addiction victims ...
Mallinckrodt, which won court approval for its bankruptcy plan last month, said it is moving ahead with ample liquidity to execute its strategic priorities. Pursuant to the bankruptcy plan ...
Mallinckrodt said on Monday it had agreed to pay $1.6 billion over several years to settle opioid-related litigation. ... as part of its settlement once the company emerged from chapter 11 bankruptcy.
Mallinckrodt said it, along with generic-focused subsidiaries, has reached an agreement in principle on a settlement agreement that would resolve all opioid-related claims against the entities.
The drugmaker is required to make the payment to an opioid-victims compensation trust by mid-June as part of its chapter 11 exit plan, the newspaper said. Mallinckrodt did not immediately respond ...