Mallinckrodt Balks At Bid To Withdraw Acthar Antitrust Claims

By Rick Archer (December 17, 2021, 9:12 PM EST) -- Mallinckrodt objected to a request by Acthar antitrust claimants to withdraw their Chapter 11 claims, telling a Delaware bankruptcy judge Friday that it needs a ruling on the claims to secure a post-bankruptcy distribution deal.

At a virtual hearing, counsel for the Acthar claimants told U.S. Bankruptcy Judge John Dorsey that their clients no longer thought their claims are worth pursuing, while Mallinckrodt said allowing the claimants to pull out would undermine an adversary proceeding that the company needs to go forward.

Ireland-based Mallinckrodt and its affiliates filed for Chapter 11 in October 2020 with a restructuring support agreement that would...

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