Mallinckrodt Cleared To Tap Into $250M Of Ch. 11 Financing

By Vince Sullivan · August 30, 2023, 6:51 PM EDT

Drugmaker Mallinckrodt PLC received permission Wednesday in Delaware bankruptcy court to tap into $250 million of Chapter 11 financing after the judge presiding over the case had his concerns about large...

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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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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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