Insys Files New Ch. 11 Plan Reflecting Deal With DOJ, States
Law360 (December 2, 2019, 9:31 PM EST) -- Bankrupt opioid maker Insys Therapeutics Inc. filed an amended Chapter 11 plan Friday in Delaware that reflects the negotiated agreement reached among the debtor and its creditors, including the U.S. Department of Justice and numerous states, municipalities and Native American tribes.
In the new plan, Insys lays out the distribution scheme for various classes of creditors with claims against the company for its role in the national opioid epidemic that stemmed from its scheme to provide kickbacks to doctors who prescribed its powerful fentanyl-based oral painkiller Subsys for off-label uses.
The distributions will be made according to a negotiated deal with...
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