Because the Court finds that current members of the Fund will
suffer substantial harm should the Fund be terminated, and for
the reasons stated by the Court at the conclusion of oral
argument, it is
ORDERED that the recommendation of the Fiduciary is adopted and
that the Business Plan may be implemented, subject to the
(1) Mr. Bergamo, or another party to be appointed by the Court,
shall act as Manager of the Fund and Fiduciary, with full power
and authority to manage all aspects of the day-to-day
operations of the Fund. The Fiduciary's duties shall include,
but not be limited to, selecting and retaining all service
providers for the Fund, and hiring, dismissing and determining
the rates of compensation of employees of the Fund. The Court
anticipates that the Fiduciary will continue in effect the
current freeze on payment of past claims against the Fund.
Should the Fiduciary determine that payment of any existing
claims is appropriate, however, the Fiduciary shall have the
discretion to direct such payment. In addition, the Fiduciary
has full power and authority to determine which new claims and
liabilities of the Fund, if any, shall be paid and the priority
and amounts of such payments.
(2) The Fiduciary shall draft disclosure letters to both
existing and prospective participants in the Fund and submit
those letters for the Court's review no later than October 18,
1991. Upon approval of the Court, the Fiduciary shall send the
letters, along with a copy of his final report and
recommendation, to all current and prospective Fund members.
Once the Court has approved the disclosure letters, the
Business Plan may be implemented for sixty days, during which
time the Fiduciary is to make every effort to solicit the new
members required under the terms of the Business Plan.
(3) The Fiduciary is to recommend to the Court, no later than
October 25, 1991, individuals to serve as Trustees for the
(4) In consultation with the experts retained by the various
parties, the Fiduciary is to determine a reasonable
contribution rate for all new participants in the Fund. That
suggested contribution rate is also to be submitted for the
Court's approval no later than October 25, 1991.
The parties are ordered to submit briefs, no later than
November 1, 1991, on the question of this Court's power to stay
all pending claims against the Fund, should the Panel on
Multidistrict Litigation grant the Consenting Defendants'
Motion and order that all such cases be consolidated in this