Kevin Maclay Speaks to Law360 on Mallinckrodt Bankruptcy

A top Mallinckrodt PLC lender group warned Wednesday that it opposes the bankrupt global drugmaker's "flawed" plan to shed $1 billion of its debt in a Delaware Chapter 11 that also seeks nearly $2 billion in multiyear settlements for opioid suits and other claims.

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Kevin C. Maclay of Caplin & Drysdale, who represents the Multi-State Governmental Entities Group in opioid litigation, questioned the fit, telling Judge Dorsey that his group has "numerous and substantial concerns" about Mallinckrodt's proposals.

"We're going to take the next two weeks to try to actively work with the debtors," Maclay said, adding, "We are not part of the deal and have significant concerns about it and want to give you a heads-up that in two weeks, you might be hearing a lot more from us."

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