Mallinckrodt Says Order Gives Time For Transfer Probes

Law360 (November 18, 2020, 9:32 PM EST) -- Global drugmaker Mallinckrodt PLC Wednesday asked a Delaware bankruptcy court to reject arguments that a proposed order allowing it to use lender cash to fund its Chapter 11 case does not provide enough money or time for creditors to probe prebankruptcy transfers.

In a response to objections to its cash collateral motion filed by a committee of opioid tort claimants, Mallinckrodt said the order placed necessary limits on the investigations into whether the transfers can be clawed back and that those limits are considerably looser than had been originally proposed.

Mallinckrodt and numerous affiliates sought Chapter 11 protection last month, with...

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