What Can Heller Staff Due In Case Of Bankruptcy?

Your Cruise Director is bombarded on a daily basis with emails from Hellerites as to the possibility of the Dissolution Committee filing for bankruptcy and what staff can do if this filing does take place.

I don’t know that bankruptcy is very likely after having read a purported copy of the Plan of Dissolution that has been leaked.  On the surface it seems that when all is said and done, there should be plenty of money to pay unsecured creditors as well as wages and accrued vacation as well as WARN Act severance.

But also in the agreement is a paragraph which states that a majority of the Dissolution Committee members can vote to file Chapter 11 or Chapter 7 bankruptcy – that a vote of the current Shareholders is not needed. 

So, what to do?  

Along those lines I have started to contact possible bankruptcy counsel, especially given the lessons learned with the Brobeck bankruptcy filing.  This would be only to represent the Heller staff as a class in case bankruptcy is filed – I want to make it clear that I don’t know of any group of staff or anyone else seeking to force the firm into involuntary bankruptcy.

But it is always a good idea to be prepared if there is a filing.  So, I do have some information and advice but I’m not so sure that showing all our cards on this blog is a good idea right now.  If you would like more information, please email me. 

Your information will be held in strict confidence but it would help if you used your real name when emailing so that I can verify your presence at Heller and weed out all the management spies and looky-loos.

Over and out.

Heller Drone
Cruise Director

Advertisements

Life preserver.jpg
Remember the words of Rev. Frank Scott (Gene Hackman in The Poseidon Adventure):

". . . sitting on our butts is not going to help us either. Maybe by climbing out of here, we can save ourselves. If you've got any sense, you'll come along with us."

Contact Us!

Send us your information as to job leads, networking, or just plain vent!
Go ahead, say it!
Add to Technorati Favorites
Bloggers' Rights at EFF

Credits

This blog has been created by Thomas MacEntee.

Recent Comments

Terms of Service

Heller Highwater (hellerdrone.wordpress.com)
Last Modified: September 14, 2008

- Don't be a dill weed.

- Treat other people the way you want to be treated.

- Ladies and children first.

- This is a rescue, not a bitch session.

- Help don't harm.

- Save the snarks for the attorneys and Above The Law.

Heller Highwater is not:

- a place to practice viscious and vindictive "whisper down the lane" rumour-mongering;

- a place to bad mouth co-workers;

- a place for diatribes against specific people or specific incidents;

- a place to heap pity on poor Heller Ehrman staff by outsiders;

- a place that discriminates or sets margins noting who is outside and who is inside - we even welcome supportive Heller Ehrman attorneys!;

- meant to further the demise of Heller Ehrman, LLP.

Heller Highwater is:

- a place for support, a place of empowerment, a place of passion;

- a place to learn about job leads, resume preparation, skill building, training, new opportunities, and how to succeed in a new workplace;

- a place to keep up on the latest news as to how Heller Ehrman management intends to treat its support staff as it winds down its operations - will it be every woman for herself? or will it be "let me hold the door for you and is there anything else I can do for you"?

- a place of refuge.

Note: in no way, shape or form is Heller Highwater sanctioned, supported or even recognized, (but it is very likely monitored) by the management of Heller Erhman, LLP. The opinions represented here and on each and every page of Heller Highwater do not constitute the opinions of Heller Ehrman, LLP or its shareholders or its management. In addition, the comments left by visitors do not reflect the opinions of Heller Highwater.

%d bloggers like this: