Irish-registered pharma company enters examinership for second timeKenneth FoxThe High Court has appointed an interim examiner to Dublin-based but US-run pharmaceutical company Mallinckrodt for the second time in 15 months. Last year, the company successfully exited the examinership process following the implementation of an extensive restructuring plan which saw it reduce its debts by $1.3 billion. However, Mr Justice Quinn heard that despite these issues the company and its subsidiaries are confident that the business has a reasonable prospect of survival if a fresh scheme of arrangement can be agreed with its creditors. As a result, the company has again sought the appointment of an examiner before the Irish courts. Following an application by Brian Kennedy SC, appearing with Stephen Walsh Bl for the company, Mr Justice Quinn agreed to appoint experienced insolvency practioner Michael McAteer of Grant Thornton as interim examiner to the firm.

Source: Irish Independent September 20, 2023 20:53 UTC