Mallinckrodt says Opioid Trust further extended payments due date

Mallinckrodt disclosed that pursuant to the amendment, Opioid Master Disbursement Trust II provided written notice that it was further extending the due date of the Opioid Deferred Cash Payment from July 14 to July 21. Under the opioid deferred cash payments agreement, the company and certain of its subsidiaries agreed to make certain deferred payments to the Trust, including a $450M payment that was paid on the effective date. Mallinckrodt added, “The Company continues to analyze its situation and engage with various stakeholders, including representatives of the Trust. The Board has not determined the ultimate path for the Company, including whether or not the Company will make a filing under the U.S. Bankruptcy Code or analogous foreign bankruptcy or insolvency laws.”