Mallinckrodt Says Ch. 11 Plan Fair For Acthar Claimants
By Rick Archer (January 6, 2022, 9:47 PM EST) -- Mallinckrodt PLC Thursday made its final arguments for its Chapter 11 plan to a Delaware bankruptcy judge, with the drugmaker defending the plan against assertions that it's unfair to holders of claims connected to its Acthar gel and contains improper liability releases.
Mallinckrodt ended the third day of remote closing arguments in a confirmation hearing that began in November by telling U.S. Bankruptcy Judge John Dorsey that the Acthar claimants are getting more under the plan than they would in a liquidation, and that the ruling overturning releases in Purdue Pharma's Chapter 11 plan doesn't apply to this case.
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