Mallinckrodt Says $1.75B Ch. 11 Opioid Deal Is Reasonable

By Rick Archer (December 13, 2021, 8:20 PM EST) -- Witnesses for supporters of Mallinckrodt's proposed Chapter 11 plan Monday told a Delaware bankruptcy judge that the plan's proposed $1.75 billion opioid claims deal is reasonable and the distribution of its unsecured creditors' settlement is fair.

The third week of virtual hearings on Mallinckrodt's Chapter 11 plan began with an expert witness for the drugmaker claiming the plan's opioid settlement was on the low end of the range of settlements it could pay, while an adviser for the unsecured creditors' committee said Acthar gel antitrust claimants could recover more than $86 million after the non-monetary parts of the committee's settlement are...

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