Mallinckrodt Pushes Back Ch. 11 Plan Vote After $583M Deal

By Rick Archer (September 8, 2021, 5:49 PM EDT) -- Drugmaker Mallinckrodt has told a Delaware bankruptcy judge it is pushing back the voting deadline for its Chapter 11 plan by two weeks to give stakeholders time to digest $583 million in settlements it has struck with secured lenders, unsecured creditors and opioid claimants.

At a virtual hearing before U.S. Bankruptcy Judge John Dorsey on Wednesday, the drugmaker said it had reached the deals with its unsecured creditors committee, opioid claimants committee and second-lien bondholders on Friday and as a result would roll back the voting deadline for its Chapter 11 plan to Sept. 17 to give creditors a chance to...

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