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Mallinckrodt Ch. 11 Talks Stalled Amid Fee Row, Judge Told
Law360 (January 14, 2021, 10:43 PM EST) A consultant for global drug giant Mallinckrodt PLC told a Delaware judge Thursday that movement toward a Chapter 11 plan has virtually come to a standstill as a dispute rages on over whether the drugmaker should reimburse fees for certain restructuring professionals.
During a virtual hearing in front of U.S. Bankruptcy Judge John T. Dorsey, a restructuring consultant and financial adviser for Mallinckrodt testified that negotiations with stakeholders on a Chapter 11 plan have come to a near halt amid the fee row. Activity has virtually come to a standstill, Randall S. Eisenberg of AlixPartners LLP said.