NECC Fungal Meningitis Litigation Update
By: Chris Placitella @ Dec 05, 2014
On December 3, 2014, New England Compounding Center’s Bankruptcy Trustee and the Chapter 11 Official Creditor’s Committee filed a Joint Chapter 11 Plan providing for the distribution of NECC’s assets gathered in the Massachusetts Bankruptcy proceedings. As of the time of the filing the Trustee and the Committee expected that at least $135 million will be available for distribution to individuals with personal injury or death claims against NECC. More details can be found in the Trustee, Official Committee and Plaintiffs’ Steering Committee’s press release.
Two of CPR attorneys, Harry M. Roth and Michael Coren, serve on the Official Creditors Committee as attorney representatives of one of the committee’s co-chairs and share executive responsibility for the Committee’s work. They are credited with being highly instrumental in forging both the Plan and the settlements funding the Plan. Both are currently working on obtaining bankruptcy court approval of the Plan, further settlements and setting up the facilities for its implementation if and when the Plan approved. The bankruptcy court has set a hearing on approval of the Disclosure Statement for February 24, 2015 at 10 A.M. in Springfield Massachusetts.
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