LexisNexis® Legal Newsroom
Judge Grants Approval Of $12M Settlement For Victims Of Salmonella Outbreak

LYNCHBURG, Va (Mealey's). - A federal judge in Virginia on Sept. 2 adopted a U.S. magistrate judge's report recommending the approval of a $12 million settlement to compensate people sickened by a nationwide Salmonella outbreak linked to tainted peanuts ( I n re: Peanut Butter Corporation of...

WaMu Bank Bondholders Settle For $335 Million

SEATTLE - (AP) A group of Washington Mutual creditors have signed on to a settlement that pushes the bank's reorganization plan a step closer to approval. Washington Mutual Bank bondholders agreed to a $335 million settlement, according to an amended reorganization plan filed Wednesday with U.S....

Madoff Bankruptcy Trustee Secures Largest Feeder-Fund Bank Settlement

NEW YORK - (Mealey's) The trustee of the bankruptcy estate of convicted multibillion-dollar Ponzi scheme mastermind Bernard L. Madoff secured a nearly $500 million settlement with a feeder fund of Madoff's investment firm, according to documents made available Dec. 7 in a New York federal bankruptcy...

$550M Settlement For Family Secured By Madoff Trustee

NEW YORK -- (Mealey's) The bankruptcy trustee for the investment company once run by convicted Ponzi scheme operator Bernard L. Madoff has secured $550 million in a settlement with the family of one of Madoff's earliest investors, according to a motion for entry of order filed Dec. 8 in a New...

$212 Million Settlement Reached With Madoff Feeder Funds

NEW YORK - (Mealey's) The liquidation trustee of Bernard L. Madoff Investment Securities LLC (BLMIS) has reached a $212 million settlement with two BLMIS feeder funds, according to documents filed May 18 in a New York federal bankruptcy court ( Securities Investor Protection Corp. v. Bernard L. Madoff...

Tribune Co., Former Employees Reach $32 Million Agreement On ERISA Claims

CHICAGO - (Mealey's) The Tribune Co., which is in Chapter 11 bankruptcy, announced Oct. 20 that it has reached a $32 million settlement with former employees who had sued the company alleging violations of the Employee Retirement Income Security Act of 1974 (ERISA), which may provide Tribune with...

GM, EPA Reach $23.79 Million Agreement On Superfund Cleanup Costs

NEW YORK - (Mealey's) The liquidation company for bankrupt General Motors Corp. on Jan. 30 reached a $23.79 million settlement with the U.S. Environmental Protection Agency to resolve environmental liabilities related to Superfund sites in three states ( In Re: Motors Liquidation Company f/k/a General...

Lehman Brothers Agrees To $1 Billion Settlement With Bermuda Affiliates

NEW YORK - (Mealey's) Lehman Brothers Holding Co. Inc. on Feb. 28 agreed to a $1 billion settlement that resolves $2.3 billion in claims brought by the closed bank's affiliates based in Bermuda, according to a brief the bank filed in a New York bankruptcy court ( In re: Lehman Brothers Holding...

Gibraltar Pays $65 Million To Settle Rothstein Ponzi Claims

FORT LAUDERDALE, Fla. - (Mealey's) The trustee for a bankrupt feeder fund and the trustee of convicted Ponzi schemer Scott W. Rothstein's law firm have agreed to an amended $65 million settlement with Gibraltar Private Bank and Trust Co., a bank Rothstein is alleged to have used in his scam,...