October 8, 2019 / 10:31 PM / 6 days ago

Opioid maker Insys says it aims to reach 'fully consensual' Ch. 11 plan

Insys Therapeutics Inc has sought an order for an extra 90 days to file a Chapter 11 plan to try to get widespread creditor support on wrapping up its bankruptcy, the first stemming from the legal fallout over the deadly U.S. opioid epidemic.

Insys in a filing on Monday in U.S. Bankruptcy Court in Delaware asked Judge Kevin Gross for an order giving it through Jan. 6, 2020 to file a plan, arguing its bankruptcy is at a “critical juncture” in which “complicated and multifaceted” negotiations are underway.

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