(Bloomberg) -- Drug manufacturer Endo International Plc won bankruptcy court permission to poll its creditors on a plan that would hand control of the business to lenders and settle opioid liabilities in deals valued at more than $600 million.

Judge James L. Garrity Jr. said during a Tuesday court hearing in New York he’ll allow Endo creditors to vote on its restructuring plan weeks after the company announced opioid-related settlements.

The judge’s approval keeps Endo on pace to emerge from Chapter 11 protection in the second quarter of 2024. Endo filed for bankruptcy in August 2022 to deal with more than $8 billion in long-term debt and lawsuits alleging the company helped fuel the nation’s addiction crisis. Opioid lawsuits also drove fellow drugmakers Mallinckrodt Plc and OxyContin maker Purdue Pharma LP into Chapter 11.

Endo’s restructuring plan includes settlements with state and federal authorities, and is expected to pay individual opioid victims between $89.7 million and $119.7 million, according to court documents. The company has also agreed to pay $273 million to more than 40 states and as much as $365 million to the U.S. Justice Department. The exact amount of the payments depends on whether Endo opts to pay some settlements in full when the company leaves bankruptcy or over time, the documents show.

The opioid victims committee said in a Tuesday court filing that the net present value of the various settlements is more than $600 million and close to $800 million on a nominal basis. The committee said deals it struck with Endo aren’t perfect and don’t provide enough money to rectify the damage caused by the opioid crisis, but at least provide victims some compensation relatively quickly.

The committee said its members struck the settlements, in part, because of problems that have held up similar settlements involving Purdue and Mallinckrodt. Purdue’s settlement involves payments from its Sackler-family owners and has been tied up for years in appeals. Mallinckrodt struggled after its first trip to Chapter 11 and cut an earlier opioid settlement by $1 billion after filing bankruptcy a second time last year.

Judge Garrity is scheduled to consider approving Endo’s bankruptcy exit plan in March.

The case is Endo International plc, 22-22549, in the US Bankruptcy Court for the Southern District of New York.

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