Mallinckrodt outside date under cash collateral order extended

By Sarah Lizee

Olympia, Wash., May 25 – Mallinckrodt plc’s outside date under the order approving its access to cash collateral was extended to June 20 from May 30, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware on Friday.

The company first asked for a 30-day extension on April 15, saying the debtors were weeks away from successfully consummating their reorganization. The court granted that extension, and the company requested another 20-day extension to June 20.

Mallinckrodt said it sought the extensions to retain access to cash collateral for the period leading up to emergence.

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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