---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-108353"
form_type: "8-K"
ticker: null
cik: "0001567892"
company_name: "Keenova Therapeutics plc"
filed_at: "2023-10-10T23:59:59+00:00"
generated_at: "2026-06-10T02:22:23.110614+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bankruptcy court confirms Mallinckrodt's prepackaged Chapter 11 plan; equity holders wiped out

## Summary
- Plan confirmed by Delaware bankruptcy court on Oct 10, 2023; emergence expected Q4 2023 after Irish examinership.
- First lien claims receive 92.3% of new common equity; second lien claims get 7.7%; existing equity holders receive nothing.
- New common equity will not be listed on any national securities exchange.
- Company had 13,371,707 ordinary shares outstanding as of Oct 9, 2023; all to be canceled on effective date.
- Consummation remains subject to Irish court approval of scheme of arrangement.

## SEC filing metadata
- accession: 0001104659-23-108353
- form_type: 8-K
- cik: 0001567892
- company_name: Keenova Therapeutics plc
- filed_at: 2023-10-10T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1567892/000110465923108353/0001104659-23-108353-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1567892/000110465923108353/tm2328021d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-108353
- JSON: https://secwatch.observer/filing/0001104659-23-108353.json
- Plain text: https://secwatch.observer/filing/0001104659-23-108353.txt

## Key facts
- Distress & Bankruptcy
  Keenova Therapeutics plc entered chapter 11 in U.S. Bankruptcy Court for the District of Delaware (petition 2023-08-28).
  - Proceeding: chapter 11
  - Court: U.S. Bankruptcy Court for the District of Delaware
  - Petition: 2023-08-28
  source text: Mallinckrodt plc (in examination under Part 10 of the Companies Act 2014 of Ireland and hereinafter "Mallinckrodt" or the "Company") and certain of its subsidiaries (collectively, the "Debtors") voluntarily initiated proceedings (the "Chapter 11 Cases") under chapter 11 of title 11 of the United States Code in the U.S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") with a prepackaged chapter 11 plan
  evidence_url: https://www.sec.gov/Archives/edgar/data/1567892/000110465923108353/0001104659-23-108353-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.