Generic Drugmaker Endo's Bankruptcy: Lenders Suggest $465M Payment To Settle Dispute With Federal Entities: Report
Portfolio Pulse from Vandana Singh
Endo International's lenders have proposed a $465 million settlement with U.S. government agencies to resolve disputes over the company's restructuring plan during its ongoing bankruptcy proceedings. The plan includes a $365 million payment over ten years or a $200 million lump sum, with an additional $100 million in unsecured notes based on future performance. This proposal aims to help Endo exit Chapter 11 bankruptcy and facilitate compensation for opioid victims.
November 22, 2023 | 11:56 am
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Endo International's lenders have proposed a settlement that could facilitate the company's exit from Chapter 11 bankruptcy and address compensation for opioid victims, potentially impacting the company's financial restructuring.
The proposed settlement is a positive development for Endo International as it could resolve outstanding disputes with government agencies and allow the company to progress in its bankruptcy proceedings. This could lead to a more favorable restructuring outcome and potentially improve the company's financial position in the short term. However, the company's stock is still risky given its bankruptcy status and the uncertainties involved in such proceedings.
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