A New York real estate lawyer who has been accused by creditors of misusing client funds has reached a plea agreement with prosecutors and will surrender for arrest next month, the Manhattan district attorney's office told a federal bankruptcy judge on Tuesday.
Mallinckrodt Plc filed for bankruptcy last year to resolve thousands of lawsuits accusing it of fueling the opioid epidemic, but as it aims to bring the process to a close, it must first address a completely different kind of claim.
Calls for mediation in two intertwined talc-related bankruptcies are growing as disputes over insurance policies have bogged down efforts to resolve litigation alleging exposure to talc products caused cancer through the Chapter 11 process.
The judge overseeing the bankruptcy of Johnson & Johnson's subsidiary that holds its talc liabilities is considering a transfer of the proceeding out of North Carolina.
Minnesota-based organic food and feed supplier Pipeline Foods LLC on Thursday secured approval to move forward on a fast-tracked auction and sale of certain property in Iowa and to work with junior creditors to sell off the rest of its assets.