Judge OKs Metabolife's Ch. 11 Liquidation Plan

Law360, New York (September 27, 2007, 12:00 AM EDT) -- A bankruptcy judge has approved Metabolife International Inc.’s Chapter 11 plan of liquidation, which calls for a $56 million fund to settle product liability suits over the diet pill ephedra.

On Wednesday, Judge John J. Hargrove of the U.S. Bankruptcy Court for the Southern District of California signed off on the plan, approving Metabolife’s settlement agreement in its entirety.

At the plan confirmation hearing on Sept. 10, Judge Hargrove he would sign off on the plan after an order was submitted to him.

Before the plan...
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