Updated Heller Ehrman Bankruptcy Documents

Here is what I can provide as of 3:00 pm CST here in Chicago.  

Note that some of these documents are signed orders by Judge Dennis Montali and the requests including Order Authorizing Debtor to pay pre-petition Employees, Order Authorizing Debtor to use Cash Collateral and Order Authorizing Maintenance of Bank Accounts were approved yesterday, December 29, 2008.

Included in this set of documents is a Notice of Hearing indicating that a hearing is set for 10:00 am on January 28, 2009 at the U.S. Trustee’s office (235 Pine Street, Suite 805, San Francisco) and that the deadline to file claims is April 27, 2009.  This notice also stays all other court cases related to Heller Ehrman including class action suits (and possible DLSE wage claims).

Finally, the last document is an Unsecured Creditors Committee Acceptance/Rejection Form which allows unsecured creditors to indicate if they are willing to serve on the Unsecured Credits Committee.








2 Responses to “Updated Heller Ehrman Bankruptcy Documents”

  1. 1 My Guess 30 December 2008 at 10:52 pm

    So doesn’t the order to pay pre-petition employees give the DC the authority to pay (and discretion not to pay) ALL employees what is due them under the law right now (as in tomorrow)? Further, doesn’t it direct the banks not to impede payment of these wages/vacation? Let hope every employee gets a check pretty soon. Though, for a little socratic irony, take a peek at the payments authorized to the DC under the Dissolusion(al) plan. Damn Leeches! Lets hope EVERY employeee is paid EVERY cent they are owed BEFORE one cent of DC payment is allocated!

    I hope this stigma follows every HEWM ‘shareholder’ for a long time to come!

  2. 2 Observer 2 January 2009 at 3:06 am

    The motion and court order are not models of clarity.
    But it does seem to me that there is no intent to pay accrued vacation immediately (and the court might not have approved it) other than to those employees who were retained down to Dec. 29 and after. Part of the policy of incentivizing those employees to stay in in jobs from which they will certainly soon be terminated, delaying their re-entry into what is a nasty job market which was (probably) a detriment to them of staying on.

    Not that the rest of us won’t ever get ours, but only after the more regular claim and creditor distribution process.

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