CH11 wackelt? Mallinckrodt’s Bankruptcy Plan Faces Justice Dept.'s Opposition Oct. 14, 2021, Plan contains expansive liability releases, U.S. Trustee saysDrugmaker seeks to create $1.7 billion opioid victims trust The Justice Department’s bankruptcy watchdog is opposing drugmaker Mallinckrodt Plc’s reorganization plan to settle thousands of lawsuits over its opioid painkillers, arguing that it would improperly waive potential legal claims against affiliated third parties.
The U.S. Bankruptcy Court for the District of Delaware should reject the company’s Chapter 11 plan in its current form, the U.S. Trustee said in a Wednesday court filing.
The U.S. Trustee zeroed in on certain features that would force creditors to give up potential claims against company directors, officers and other related professionals, including claims that aren’t related to the company’s production and sale of ...
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