Open Thread – Proposed Settlement

We haven’t done an Open Thread post here before but I really think that it is needed in light of the recent comments on the Joint Statement, the Class Action Settlement and the proposed Plan of Liquidation.

Please post your comments as you see fit but I think we could all benefit from the following:

  • How would you do things differently in this entire process? Meaning, would you have organized a class action group? Would you have taken some alternative route? Would you have handled representation on the Unsecured Creditors Committee differently?
  • Please keep the comments civil and away from personal attacks.  We can all agree to disagree and overall I believe most of the comments have been constructive and at least for me, have caused me to look at some issues from different perspectives.
  • Be honest.  I know I am and I would expect nothing less from Heller employees.  If you want to state opinions, state them.  If you want to state facts, make sure you can back them up.

4 Responses to “Open Thread – Proposed Settlement”

  1. 1 Former NY Associate 4 November 2009 at 9:43 pm

    Just a couple of comments. Associates weren’t doing nothing as suggested previously. Many associates were researching issues, interviewing lawyers, and attempting to organize groups of employees.

    As the class reps apparently realized, they made a mistake in their original choice of representation. As an example, when I called the original class counsel to ask some questions, he told me that he couldn’t tell me anything due to attorney-client privilege — a concept he clearly had never researched. I would suggest that one lesson from this experience is that rushing to file is less important that hiring competent (or qualified) counsel.

  2. 2 Sleeping in Seattle 8 November 2009 at 6:10 pm

    I have a question about how priority claims are going to be calculated. When I look at the schedules that the firm filed in January, the amount of my claim they recorded as entitled to priority status is much less than I expected. My best guess is that vacation time I took in the 180 days prior to the layoff was deducted on a last in first out basis, so it was deducted from days earned in the last 180 days, rather than from days earned prior to that point. Obviously this is the method of calculation least favorable to the employees. I’m assuming the settlement payouts would be calculated in the same way? I think issues like this are one reason it’s hard to gauge the fairness of the settlement offer without any concrete numbers to work from.

  3. 3 Observer 8 November 2009 at 6:42 pm

    There does seem to be case law that says you start with the vacation earned during the last 180 days, but then reduce it for vacation time actually taken during that same period, and the net is the amount (up to the $10,950 cap) of priority vacation pay.

  4. 4 Staff 10 November 2009 at 12:32 am

    good points thomas, your blog site has been the pillar for all of us in viewing the status of “where’s my vacation money?” to all the gripes of everyone who is basically upset. And that “anger” is defined differently for everyone.

    We all carry different issues in our life. But this heller thing is something that we all have in common. The money.

    the people who deserve the good things will fall right into their hands. whereas the the people who know they deserve the bad things in their life will certainly trickle down the bad road….and you know who you are!

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