Mallinckrodt Reaches Settlements With Official Committee Of Opioid Related Creditors

(RTTNews) - Mallinckrodt plc (MNKKQ) said Friday that it has reached an agreement with the Official Committee of Opioid Related Creditors or the "OCC" and the Restructuring Support Agreement or the "RSA" Parties to support an amended Plan of Reorganization, which the company will file in the coming days.

The agreement with the OCC follows recently announced agreements to support the Amended Plan that Mallinckrodt reached with the Official Committee of Unsecured Creditors appointed in its Chapter 11 cases or the "UCC" and certain of Mallinckrodt's second lien noteholders.

The Bankruptcy Court will hold a confirmation hearing to consider approval of the Plan, which will commence in September 2021.

If the Amended Plan is confirmed, the company plans to file an examinership proceeding in Ireland to effectuate the reorganization in Ireland, which the Company expects may take approximately 90-150 days.