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Bankruptcy Court Approves Settlement with NECC and Related Companies
Foley & Small is pleased to announce that a Massachusetts bankruptcy judge has approved a settlement of over $100 million with the New England Compounding Center, related entities and certain other defendants. The claims arose after NECC's tainted steroids were injected into patients throughout the U.S., including Indiana and Michigan. The settlement includes resolution of claims against UniFirst and Liberty Industries. As was detailed in initial settlement filings, NECC partners Barry Cadden, Lisa Cadden, Carla Conigliaro and Greg Conigliaro will pay $47.5 million into the settlement fund.
Foley & Small represents more than 90 persons or their survivors who received the fungal laden injectable steroids.
Filing of Claims in the Settlement Process in NECC Bankruptcy
Foley & Small is pleased to provide information on the claims submission process as part of the NECC bankruptcy settlement. Claim submission packages are to be issued by the claims administrator by June 18, 2015. It is anticipated that such submission packages will be received prior to that date. Foley & Small will be forwarding those claims submission papers to our clients as they are received. The deadline for submission of a claim package is October 2, 2015. It is understood that the claim administrator will begin processing claim packages as they are received. The distributions will be in two parts-an initial primary distribution where the bulk of settlement funds will be distributed and a second later distribution that will occur after any claim appeals are resolved. It is contemplated that initial distributions will occur starting in late summer or fall of this year.