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Mallinckrodt Trust Can Pursue Covidien Clawback Claims

By Emlyn Cameron · January 22, 2024, 9:28 PM EST

A litigation trust formed when Mallinckrodt PLC left Chapter 11 bankruptcy can continue pursuing some clawback claims against Covidien Unlimited Co. alleging Covidien committed actual fraud when it spun Mallinckrodt off...

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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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