Updated Claims Register

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.


4 Responses to “Updated Claims Register”

  1. 1 Priority and Unsecured Claims 22 April 2009 at 12:56 pm

    Scanning the Claims Register, I was surprised to see that of the 165 claimants, 18 were filed via Blum Collins LLP. I was expecting more.

    I also notice that of all the Claimants listing both Priority and Unsecured amounts, only two are NOT represented by Blum Collins.

    If I understand the difference between priority and unsecured claims, this suggests people are hesitant to make claims for things like Waiting Time Liquidated Damages, because one would probably want legal advice before doing so. Yet this doesn’t seem to outweigh the majority’s decision NOT to retain Blum Collins.

    Is this accurate? Can anyone comment on their own decision-making process?

  2. 2 Thomas MacEntee 22 April 2009 at 1:04 pm

    My two cents:

    I think there is a time lag and you should expect more Blum Collins filed claims to show up – I try to updated the Claims Register as often as possible – I’ve been utilizing an ex-Hellerite who has been very generous with his time and devotion to the docket documents.

    Some people may realize that Blum Collins has filed a “general proof of claim” for $32 million – whether or not this will be acceptable to the bankruptcy court remains to be seen. The filing of claims by Blum Collins is for those who have expressly signed a retainer agreement. Keep in mind that once a class is certified, there will be an “opt out” opportunity for those who have not expressly signed the retainer agreement.

    I also think there is this element going on: associates especially are hesitant to sign on with a group that may be looking to go after successor law firms – especially firms where they’ve picked up new employment after the Heller implosion. There are also associates who depend upon former Heller shareholders for their employment/career network and they don’t want to jeopardize this. If you look at most of the claims so far, very few are from former associates and special counsel.

  3. 3 Anon2 23 April 2009 at 12:44 am

    Thomas, good observation. Of course the associates are reluctant to jump into this action. Not only are they cautious, but, unfortunately for them, optimistic. The rest of us veterans know that loyalty has no bearing. Hopefully these youngsters either have lots of money, or are too naive to understand the import of what is happening here – it is historic. Please post the complete list of creditor claims. I notice the original claim roster has been omitted from this blog. Thanks, HD, you are the most dedicated!

  4. 4 Observer 24 April 2009 at 10:51 pm

    I can see that at least 50 claims were filed today, beyond those on HD’s claims register update from yesterday.

    I would expect there will be — at least — another 50 filed on Monday.

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