Order | Filed: June 05, 2017
| Entered: June 05, 2017
Hill v. China-Biotics, Inc. et al
Securities/Commodities | New York Southern
Order on Motion for Disbursement of Funds
ORDER APPROVING DISTRIBUTION OF NET SETTLEMENT FUND AND REQUEST FOR ATTORNEYS' FEES granting 95 Motion for Disbursement of Funds. IT IS HEREBY ORDERED, ADJUDGED AND DECREED that: This Court has continuing jurisdiction over the subject matter of the Litigation and over all parties to the Litigation, including all Settlement Class Members. The claims set forth in Exhibit C, Part One ("Timely Valid Claims") and Exhibit C, Part Two ("Late but Otherwise Valid Claims") to the Manigault Declaration are APPROVED, and the distribution of the Net Settlement Fund to the Authorized Claimants is AUTHORIZED. Wholly ineligible, or otherwise deficient claims ("Rejected Claims"), as set forth in Exhibit C, Part Three to the Manigault Declaration, are REJECTED. Claims with a Recognized Claim amount of zero ("No Loss"), as calculated under the Court-approved plan of allocation, and as set forth in Exhibit C, Part Four are REJECTED, and the Claims Administrator will send a No Loss letter advising claimants. Angeion Group ("Angeion") is to conduct an initial distribution, after deducting $86,475.69 in remaining fees to itself, and $70,525 in attorneys' fees, and after payment of any estimated taxes, the costs of preparing appropriate tax returns, and any escrow fees as further set forth in this Order. In order to allow a final distribution of any balance that may remain in the Settlement Fund after the distribution, whether by reason of returned funds, tax refunds, interest, uncashed drafts, or otherwise, the following plan is ordered as further set forth in this Order. In order to allow the full and final distribution of the Net Settlement Fund, it is necessary to bar any further claims received after April 30, 2017 from eligibility in the distribution of the Net Settlement Fund beyond the amounts allocated to Authorized Claimants. Angeion shall be paid the outstanding balance of its fees and expenses in connection with the services performed, and to be performed, in administering the Proof of Claim Forms and distributing the Net Settlement Fund in the total amount of $86,475.69. Lead Counsel shall be paid an award of attorneys' fees and expenses in the total amount of $70,525, or 28.57% of the additional $246,853 added to the Settlement Fund. The foregoing amount shall be paid from the Settlement Fund in accordance with the terms of the Stipulation. This Court retains jurisdiction to consider any further applications concerning the administration of the Settlement, and such other and further relief as this Court deems appropriate. IT IS SO ORDERED. (Signed by Judge Paul A. Crotty on 6/5/17) (yv)