Heller Creditors Reach $1.6M Deal In Ch. 11

Law360, New York (December 11, 2009, 4:08 PM EST) -- The committee of unsecured creditors in Heller Ehrman LLP's bankruptcy has reached a settlement of about $1.6 million with 62 former shareholders of the defunct law firm.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Northern District of California, the committee said that under a confidential settlement model to be filed later in December, about 56 shareholders who made less than $450,000 annually will pay a total of $700,000, and about 6 shareholders who made more than $450,000 a year will pay...
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