Drugmaker Mallinckrodt is seeking to postpone or not pay in full the $200 million payment due today to an opioid-victims compensation trust, according to people familiar with the company’s planning, WSJ Pro Bankruptcy reported. Mallinckrodt has indicated that it might not make the opioid payment and is in discussions with financial creditors to seek waivers from potential defaults arising from nonpayment, the people said. Friday’s scheduled payment is Mallinckrodt’s second under a $1.7 billion settlement with state and local governments and private plaintiffs who alleged that it played a role in fueling the opioid crisis. The drugmaker has struggled since exiting chapter 11 last year and is now considering a repeat bankruptcy filing to revamp its balance sheet a second time. Mallinckrodt owes $1.25 billion of remaining payments under the opioid plan, which included liability releases for the company and its executives. No final decision on Friday’s payment has been made. Earlier Thursday, the company said in a securities filing it has decided not to pay $56 million in interest payments owed to its secured bondholders. It said it continues to engage with creditors on restructuring proposals they submitted that could be completed in or out of bankruptcy court.
