The following update was received from Blum Collins today:
We are happy to report that the Bankruptcy Court has, with regard to payments to class members, approved the settlement between the Heller Ehrman bankruptcy estate and the certified class of former employees.
The Court held a hearing to review the settlement on July 8, 2010, and issued its order on July 16, 2010.
The Plan of Liquidation Is Set for Hearing on August 9, 2010
The Court still needs to review and approve the proposed Plan of Liquidation that will fund the settlement. This is now scheduled for a hearing on August 9, 2010.
When Will the Employees be Paid Their Priority Claims?
If the Court approves the Plan of Liquidation on August 9, 2010 (instead of continuing the hearing again), it is possible that payments could be made within 30 days thereafter. We’ll know more on August 9, 2010.
©2010, copyright Thomas MacEntee


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