Mallinckrodt plc takes next step to implement comprehensive financial restructuring plan to address long-term debt and opioid obligations
Initiates voluntary prepackaged chapter 11 proceedings with overwhelming support of key stakeholders, including 85%+ of first and second lien debtholders continuing to operate normally, serve customers and deliver high-quality therapies to patients vendors and suppliers expected to be paid in full in the ordinary course dublin , aug. 28, 2023 /prnewswire/ -- mallinckrodt plc (nyse american: mnk) ("mallinckrodt" or the "company"), a global specialty pharmaceutical company, today announced that it has taken the next step to implement the comprehensive financial restructuring plan contemplated by a restructuring support agreement ("rsa") the company previously entered into with more than 85% of each of the company's first and second lien debtholders and the opioid master disbursement trust ii (the "trust"), as announced on august 23, 2023. pursuant to the rsa and with the authorization of the company's board of directors, mallinckrodt and certain of its subsidiaries 1 today initiated voluntary prepackaged chapter 11 proceedings in the u.s. bankruptcy court for the district of delaware.
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