Schering Settles With Supplier Over Recall Costs

Law360, New York (July 7, 2010, 1:33 PM EDT) -- A bankruptcy judge has signed off on a deal that resolves Schering-Plough Healthcare Products Inc.'s claims against drug manufacturer Leiner Health Products Inc. related to a 2007 drug recall.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware approved a settlement Tuesday between Schering-Plough and the liquidating trustee for Leiner's affiliates.

Under the terms of the settlement, Schering-Plough will have an allowed, nonpriority general unsecured claim for $1.5 million to be paid in accordance with the debtors' liquidation plan, which the...
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