This is the official website of the National Opioid Abatement Trust II (“NOAT II”).
The governing Trust Documents of NOAT II are:
On October 12, 2020, Mallinckrodt plc, a pharmaceutical company engaged in the development, manufacturing, and marketing of pharmaceutical products, including opioids, and certain of its affiliates commenced bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware to, among other things, address their opioid liabilities. In connection with the bankruptcy filing, Mallinckrodt entered into a Restructuring Support Agreement (“RSA”) with (i) Attorneys General for 50 States and Territories (including the District of Columbia), (ii) the Plaintiffs’ Executive Committee (“PEC”) in the multidistrict opioid litigation pending in Ohio (MDL 2804) (representing the interests of, among others, thousands of cities, counties, other local governments and American Indian Tribes), and (iii) an ad hoc group of unsecured bondholders holding more than 84% of Mallinckrodt’s subsidiary-guaranteed unsecured bond debt. The RSA was later joined by, among others, the multi-state governmental entities group (“MSGE Group”), representing more than 1,300 local governmental opioid claimants.
The RSA and its related documents contemplated, among other things, a global opioid settlement to channel all opioid claims against Mallinckrodt and certain other non-debtor parties to a series of trusts, funded by certain cash and non-cash consideration, for the benefit of Mallinckrodt’s public and private opioid creditors (the “Opioid Settlement”). The Opioid Settlement is being implemented for the NOAT II Beneficiaries through the Trust Documents described above.
The Trustees were selected by the Governmental Plaintiff Ad Hoc Committee and the Multi-State Governmental Entities Group. The NOAT II Trustees are responsible for administering NOAT II, which includes managing the Trust’s assets, making distributions in accordance with the Trust Documents, and reporting annually as required by the Trust Documents.
The NOAT II Trustees are:
The NOAT II Trust Beneficiaries are:
Below, you’ll find information related to the beneficiaries. Use the dropdown menu or scroll through the full list.