Drugmaker Mallinckrodt Looks to Bankruptcy , to Avoid Opioid-Related Payouts.br Sources claim that Mallinckrodt's board is in br negotiations with a group of hedge funds br to hand over control of the business through br filing for bankruptcy, Fox News reports.br Those hedge funds reportedly include br Greenwich and Silver Point Capital.br The 'Wall Street Journal' was the br first to report on the deal on July 26.br The drugmaker has proposed to write off approximately br $1 billion of the amount it still owes to addiction victims, br as well as state and local governments.br According to the 'WSJ' report, Mallinckrodt br will also make a one-time payment of around br $250 million, citing sources familiar with the deal.br News of the potential agreement sent shares in br the drugmaker up 53.3 in afternoon trading.br The drugmaker, one of the largest br manufacturers of opioids, previously br filed for bankruptcy three years ago.br After reaching a $1.7 billion settlement as part br of that bankruptcy reorganization, the opioidbr producer emerged from Chapter 11 in 2022.