Endo International plc: going-concern / distress — Bankruptcy court confirms Endo's Chapter 11 plan; equity canceled, first lien creditors get 96.3%

Endo International plc

On March 22, 2024, bankruptcy court confirmed Endo's fourth amended reorganization plan.
First lien creditors receive 96.3% of new equity; second lien and unsecured noteholders get 3.7% plus $23.3M cash.
Opioid claimants: $460M for states, $119.7M for private, up to $15M tribal, $11.4M future.
DOJ payment of $364.9M over 10 years or $200M lump sum plus contingent payments up to $100M.
Existing equity canceled, holders get nothing; New Endo expects up to $2.5B debt financing.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Endo International plc entered chapter 11 in U.S. Bankruptcy Court for the Southern District of New York (petition 2022-08-16).

Proceeding: chapter 11
Court: U.S. Bankruptcy Court for the Southern District of New York
Petition: 2022-08-16

Exact text from the filing

As previously disclosed, beginning on August 16, 2022, Endo International plc (the " Company ") and certain of its subsidiaries (collectively, the " Debtors "), commenced voluntary cases (the " Chapter 11 Cases ") under Chapter 11 of the United States Bankruptcy Code (the " Bankruptcy Code ") in the U.S. Bankruptcy Court for the Southern District of New York (the " Bankruptcy Court ").

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Source: SEC EDGAR

accession 0001193125-24-075864

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