News - NECC Fund Distribution Update

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 Lynne F. Riley, Tort Trustee in the New England Compounding Center bankruptcy proceedings, submitted a report on the status of claims processing on February 8, 2017.  A total of 2,352 claims have been filed with Epiq, the National Settlement Administrator. Of these, 2,005 claims have been fully or partially approved by Epiq and/or Judge Neiman, 310 claims have been fully denied by Epiq and/or Judge Neiman, 21 were invalid (typically a duplicate claim filed by a spouse), and 2 were withdrawn by the claimant.

 
128 claimants originally filed appeals of their final determination with Judge Neiman, the
Court-appointed Appeals Administrator. As of February 6, 2017, Judge Neiman issued decisions on 127 of the filed appeals and 1 appeal is still under consideration.
 
Of the 2,005 fully or partially approved claims, approximately 1,950 have received a lien
package to date. The Tort Trustee anticipates sending lien packages to the remaining approved claimants by the end of February, 2017.  The lien documentation needs to be handled and completed to bring about the issuance of a payment.
 
As of today, the Tort Trust has mailed 1447 claim checks. To date, funds disbursed to claimants by the Tort Trustee total $51,921,630.16.
 
Foley & Small anticipates that all its clients should receive their first payments by the end of March.  A majority of our clients have received their first payments.  It is also anticipated that the second payments will start to be issued by mid-year.
 

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