life preservers for the support staff of a flooded law firm amid the flotsam and jetsam
All 371 pages of the latest Claims Register have been posted to the Bankruptcy section:
Claims Register (as of 6/2/2009):
2009-06-03 Claims Register
There are a few claims of note – if anyone can provide information please do so in the comments:
Claim #1019
Paravue Corporation
Amount claimed: $20,000,000
Update - It appears that The Recorder has picked up this story:
Former IP Client Goes After Heller for $50 Million
If you’ve checked out the Claims Register over in the Bankruptcy section lately, you’ll see a claim for $50 million filed by Ronald A. Katz Technology Licensing, L.P.
What’s this all about? And why does one claim seem to represent almost 50% of the current claims? Well it appears that Mr. Katz was a client of Heller Ehrman and has been termed a “patent troll” for his litigious nature when it comes to his patent portfolio. You can read more about RAKTL here.
And if you read Memorandum of Points and Authorities in of in Support of Motion for Order Authorizing the Filing Under Seal of Documents filed recently in bankruptcy court on behalf of RAKTL, you realize that Mr. Katz is claiming breach of a legal services agreement with Heller Ehrman which is the basis for his $50 million claim.
It appears that Mr. Katz tried to shop his legal needs to the shareholders who went to Covington & Burling but was conflicted out on many of the matters. And while RAKTL has found a new legal home, isn’t it a bit galling that he not only wants to do the “shake-down” on the Heller estate in the same manner in which has has dealt with much of the Fortune 500 – but he wants all the legal work Heller has done (on contingency) to go to a new firm without paying his current outstanding bills?
Knowing that today is the deadline for filing a Proof of Claim, I’ve updated the Claims Register over in the Bankruptcy section.
Reminder: You must file your Proof of Claim by end of business Monday, April 27, 2009!
See Proof of Claim Filing Instructions for more information on how to prepare your proof of claim.
This post isn’t to be construed as “questioning the validity” of specific proofs of claim – this is an area that the US Trustee and the bankruptcy court will deal with eventually.
But I’ve notice some large claims recently in the claims register – wondering if any of our ex-Hellerites might have some background info on them:
Smith & Williamson
25 Moorgate
London EC2R 6AY – United Kingdom
Amount: $11,767,289.00
Pension Benefit Guaranty Corporation
Attn: Marc S. Pfeuffer, Attorney
Office of the General Counsel
1200 K Street, N.W. Suite 340
Washington, DC 2005-4026
Amount: $971,250.00 and $802,500.00
Grew, Christopher A.
27 Duncan Terrace
London N1 8HQ
England
Amount: $2,113,508.00
City of New York
Department of Finance
Martha E. Stark, Commissioner
345 Adams Street
Brooklyn, NY 11201
Amount: $4,909,865.00
Robert Badal
350 S. Grand Ave. #2100
Los Angeles, CA 90071
Amount: $2,275,000.00
I’ve posted an updated Claims Register – a list reflecting who has filed a Proof of Claim so far – and will attempt to do so every day this week as we get closer to the deadline of April 27, 2009.
Check out the Bankruptcy section for the updated file along with many other recent updates to the bankruptcy court docket.
Don’t forget that the last day to file a Proof of Claim with the bankruptcy court for money owed to you by Heller Ehrman is Monday, April 27, 2009.
And as mentioned previously, you can have Blum Collins calculate your proof of claim and file for you if you complete their online form and sign a retainer agreement.
Click here to complete the online form: http://tr.im/iis2
Update: the deadline to file with Blum Collins has passed – you will need to go to Proof of Claim Filing Instructions and file your claim yourself.
Several people have asked this same question because either amounts were left out, or perhaps they filed before the Proof of Claim Calculation Spreadsheet was updated.
First, check to see that the bankruptcy court has received your claim. You can do so by clicking on the Claims Register link in the Bankruptcy section of Heller Highwater.
Second, note the Claim Number assigned to your claim and the Filing Date.
Third, follow the Proof of Claim Filing Instructions and make sure you enter the Claim Number and Filing Date in the section at the upper right which begins with “Check this box to indicate that this claim amends . . .”
Remember, you have to file your Proof of Claim by Monday, April 27, 2009!
I apologize for the lack of posts but I am getting settled into my new job and much of my posting and research comes either late at night or in the early morning!
I want to clarify what seems to be a misperception among ex-Hellerites as to whether or not you are entitled to WARN Act monies if you were able to secure employment before November 28, 2008.
You are still entitled to WARN Act monies even if you left the firm before November 28, 2008 and secured employment at another firm. However, this only applies if you were terminated by Heller Ehrman. If you resigned on your own prior to November 28, 2008 then you would not be entitled to the WARN Act monies.
In my example, although Heller stated in its September 26, 2008 e-mail that I was expected to work through to the dissolution date of November 28, 2008, I was terminated – along with many others – on October 10, 2008. The Proof of Claim Calculation Worksheet (Excel) determines that I am owed 35 days in WARN Act monies. This would apply even if I had secured employment after my termination date.
* * *
I will also be updating the Proof of Claim Calculation Worksheet later today to allow for calculation of 401k Profit Sharing, prejudgment interest and more. Stay tuned.
I’ve updated the Excel spreadsheet to assist those calculating the amount due to them for their Proof of Claim. I added sections to include sabbatical (for those who had reached their sabbatical date but were not able to take a sabbatical), associate billable hours bonus and for Washington state employees the penalty for non-payment of wages.
You can access the spreadsheet here: Proof of Claim Calculation Spreadsheet
You can access the Proof of Claim instructions here: Instructions
You can access a Proof of Claim form here: Proof of Claim Form
Remember the deadline is April 27, 2009! So once you are done with your taxes you should get your Proof of Claim filed!
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