Mallinckrodt receives 90-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Aug. 20 – Mallinckrodt plc secured a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the plan filing period through Nov. 8 and the solicitation period through Jan. 10, 2022.

“After nine months in Chapter 11, the debtors have provided a clear path to confirmation [of] their proposed Chapter 11 plan and emerging from these Chapter 11 cases,” the company said in its motion.

“The significant support around the plan is the result of the debtors’ tireless engagement and negotiations with key constituents, all while the debtors have managed a variety of litigations and negotiations with third parties.”

A plan confirmation hearing is scheduled for Sept. 21, as previously reported.

“The debtors request further extension of exclusivity to complete the plan confirmation process and advance these cases to a successful resolution without the distraction and expense of competing plans,” the company said.

Dublin-based Mallinckrodt develops, manufactures, markets and distributes specialty pharmaceutical products and therapies. The company filed Chapter 11 bankruptcy on Oct. 12, 2020 under case number 20-12522.

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