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Joele Frank is handling the Chapter 11 filing of Mallinckrodt as the pharmaceutical company seeks to ease pressure from claims arising from the opioid crisis.
Mallinckrodt is using the bankruptcy to iron out a $1.6B deal with state and local governments to settle the claims made by thousands of plaintiffs.
CEO Mark Trudeau said the company worked diligently during the past several months to evaluate available options "to achieve a comprehensive resolution to the significant litigation and debt issues overhanging our business.”
The board and management determined that Chapter 11 offered the “best opportunity to maximize the value of the enterprise and position the company for the future in light of the current challenges it faces,” he added.
Joele Frank, Wilkinson Brimmer Katcher has Michael Freitag, Aaron Palash and Aura Reinhard on the Mallinckrodt case.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
Trailrunner International is handling Axum Capital Partners’ move to acquire a controlling interest in BARCODE, a performance hydration brand, in partnership with NBA All-Star Victor Wembanyama.
Alpha IR and Alpha Advisory Group represent McKinley Acquisition Corp. as it plans to take hostile drone spotter and destroyer Space-Eyes public via a SPAC deal valued at $370M.
