🚫💰😮 Eh, Mallinckrodt Going Broke Again? Less Kala for Da Opioid Pau Hana People!

⬇️ Pidgin | ⬇️ ⬇️ English

Ho, braddah and sistahs, you heard da latest? Mallinckrodt Pharmaceuticals, da big-time pilikia-maker during da opioid crisis, wen change their mind about da kala 💵 dey promised fo’ help out all da people and places wen get hurt from da opioids.

Originally, dey wen promise fo’ cough up $1.7 billion spread over eight years. Dis was suppos’ to go out to da states, da local governments, and all da peepos who wen go court against dem for making da opioid crisis even more mess up. Dey said da funds was going be used fo’ help da ones addicted fo’ get back on their feet and also help out da governments fo’ buy da kind medicine needed fo’ bring peepos back from overdoses. 🚑💔

Den, jus’ dis past Wednesday, Mallinckrodt went say, “Eh, change plans.” 🔄 Dey announced dey planning fo’ go bankrupt…again. No joke! Dis going be da second time in three years. 🙈🙉 And wit dis new plan, dey not going pay da big $1.25 billion dey still owe. Instead, dey only going give one last payment of $250 million before dey say “Aloha” and head into bankruptcy again.

And guess what? Da peepos who came up with dis new plan was da hedge funds. Dese are da kine guys who wen lend money to Mallinckrodt. Seems like dey get da power fo’ make da company pay dem back first before da opioid victims. 😡

But no worry, still get chance fo’ things change. Da new plan need da okay from da bankruptcy court. Da big boss of da company, Mr. Siggi Olafsson, wen say in one news release dat dey still get aloha fo’ da peepos and going make sure da victims get some kala from da settlement trust. But, fo’ real, Mallinckrodt neva even give any more info when peepos wen ask.

Flashback small kine: last year, when Mallinckrodt wen come out from their first bankruptcy, dey had one deal dat protected dem and their old-time big bosses from getting in trouble again fo’ selling opioids. 🤔

So far, dey only wen pay $450 million from what dey promised. And dey still owe one more payment dat was suppos’ to come in June. The kala fo’ da governments wen start to come in, but da peepos still waiting fo’ their share. And Joseph Steinfeld, one attorney representing plenty of these peepos, wen say dey getting $100 million less than what was promised. 😞

Sad yeah? All these peepos been counting on dat money, and now dey losing around 70 percent of what dey was promised. 💔

Mallinckrodt, jus’ like other big companies and pharmacies, agreed fo’ pay plenty kala cause dey wen make da opioid problem big time. Everybody know about Purdue Pharma and their opioids, but not too many peepos know dat Mallinckrodt wen push their Roxicodone pilikia pill. From wat was released during their first bankruptcy, looks like dey went all out fo’ sell their painkillers even when tings was going south with da opioid crisis all over.

Brah, dis kine stories jus’ remind all of us to stay pono and look out fo’ each other. If get big companies making da kine bad choices, gotta hold them accountable, yeah? 🤙🏽🌺🌴

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NOW IN ENGLISH

🚫💰😮 Mallinckrodt’s Second Bankruptcy Means Less Money for Opioid Victims!

Hey, everyone, have you caught the recent news? Mallinckrodt Pharmaceuticals, the major contributor to the opioid crisis, seems to be backpedaling on their monetary promises to help those affected by the opioids.

Originally, they pledged to pay out $1.7 billion over eight years. This was meant for states, local governments, and all those who sued them for escalating the opioid crisis. They highlighted the funds were dedicated to assisting those addicted to opioids, aiding in their recovery, and supporting governments in purchasing essential life-saving medications for overdose victims. 🚑💔

But, just this past Wednesday, Mallinckrodt dropped a bombshell: they’re changing their plans. 🔄 They declared their intention to file for bankruptcy…for the second time in three years! 🙈🙉 With this fresh plan, they’re axing the massive $1.25 billion they still owe, opting instead for a final payment of just $250 million before plunging into bankruptcy again.

The intriguing part? This new plan was backed by hedge funds, those very entities that loaned money to Mallinckrodt in the first place. It appears they’ve muscled their way into ensuring the company prioritizes repaying them over compensating the actual opioid victims. 😡

However, there’s still a silver lining. This new strategy still requires a green light from the bankruptcy court. The company’s CEO, Mr. Siggi Olafsson, mentioned in a news release that they’re still committed to the well-being of the victims and will ensure that some funds from the settlement trust make their way to them. But, frustratingly, Mallinckrodt remained mum when asked for more details.

A brief recap: last year, as Mallinckrodt emerged from their initial bankruptcy, they secured an arrangement that shielded them and their prior executives from any further legal issues related to opioid sales. 🤔

To date, they’ve only parted with $450 million of their promised amount. Plus, they’re behind on another payment due last June. While governments have begun to see a trickle of funds, individual victims are still left waiting in anticipation. Attorney Joseph Steinfeld, who represents a significant chunk of these victims, highlighted they’re being short-changed by about $100 million. 😞

Isn’t that disheartening? Many of these individuals were heavily reliant on that financial support, and now they’re staring at a potential 70% cut in their expected funds. 💔

Mallinckrodt, much like other pharmaceutical giants, had previously agreed to fork out large sums because of their pivotal role in intensifying the opioid crisis. While Purdue Pharma is the more infamous name in the opioid saga, not many realize that Mallinckrodt aggressively pushed their own problematic drug, Roxicodone. Information released during their first bankruptcy revealed their relentless efforts in marketing these painkillers even as the opioid crisis loomed large.

Stories like this emphasize the importance of ensuring large corporations are held accountable for their actions, right? 🤙🏽🌺🌴