From Blum Collins:
We are happy to report that on August 9, 2010 the Bankruptcy Court approved the proposed Plan of Liquidation that will fund the settlement with the class of former employees.
When Will the Employees be Paid Their Priority Claims?
Assuming all contingencies in the plan are met for the Plan to become effective (which we believe is now likely), payments on the priority amount of the employees’ claims could be made within 30 days from now. The timing of payment of the non-priority amounts will depend on when additional funds come into the estate.
Kyle Everett at DSI Will be Sending the Checks
If the plan becomes effective, the claims administrator, Kyle Everett at a company called DSI, will send you a check.
If you want to ensure that you receive any payment to class members that might be coming to you, you should send your current address to Mr. Everett, who is the claims administrator:
Kyle Everett
Development Specialists, Inc.
235 Pine Street, Suite 1150
San Francisco, CA 94104
415.981.2717 Phone
415.981.2718 Facsimile
keverett@dsi.biz
Thank you. I was wondering what was going on with the settlement. I never received a letter regarding the extension. It was also good information as to who would be issuing the checks.
Does anyone know if the members on the bankrupty committee are being paid?
If by “bankruptcy committee” you mean the “unsecured creditors’ committee,” no, those members are not being paid. And, from what I gather, some of the most active members put in a lot of time on that committee. (Thanks for that commmitment and for going to bat for us, Wondie!)
Anyone with a change of address actually needs to file a Change of Address form with the Court. This is critical. The Estate is required to send court directed payments to the address of record with the Court.
I’m sure that Wondie was very active on the committee too. Thank you, Wondie
BTW, just so you all know, it was a group of former Heller associates that wrote to the Trustee to get a Heller employee on the committee.