Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

IN RE REZULIN PRODUCTS LIABILITY LITIGATION

February 4, 2004.

In re: REZULIN PRODUCTS LIABILITY LITIGATION, This Document Relates to: All Cases


The opinion of the court was delivered by: LEWIS KAPLAN, District Judge

PRETRIAL ORDER NO. 230 (Common Benefit Work Fund Procedures)
In Pretrial Order No. 67 (Escrow Account to Fund Any Award for Common Benefit Work), this Court established procedures for the creation of a CRIS ("Court Registry Investment System") Account to serve as an escrow account to fund any award for common benefit work performed in these MDL proceedings. Pretrial Order No. 128 (Modification of Pretrial Order No. 67) provided for the appointment of a Special Master to manage the CRIS Account created pursuant to Pretrial Order No. 67. After receiving comments from the parties, and with the approval of the Court, the Special Master was to establish procedures for the payment of funds pursuant to Pretrial Order No. 67 and for the proper verification that the parties are in compliance with Pretrial Order No. 67. In Pretrial Order No. 130 (Appointment of Special Master), the Court appointed Michelle Rosenberg to perform the duties of Special Master as set forth in Pretrial Order No. 128.

The Special Master, after conferring with the defendants and representatives of the Plaintiffs' Executive Committee (PEC), has proposed a procedure for the implementation of Pretrial Orders No. 67 and 128, and the Court finds that procedure to be acceptable. Accordingly, it is hereby

  ORDERED, that Pretrial Orders No. 67 and 128 are supplemented and shall be Page 2 implemented as follows:

  1. Paragraph 1 of Pretrial Order No. 67, and all of the definitions set forth therein, are incorporated by reference.

  2. The Special Master is to deposit all Escrow Amounts received pursuant to the Pretrial Orders No. 67 and 128 in the CRIS Account.

  3. Except as specifically provided herein, all funds held in the CRIS Account, including any interest earned thereon, shall be disbursed only upon the Order of this Court.

  4. Any taxes owed on interest earned in the CRIS Account shall be paid by the Special Master from the common benefit funds on deposit in the CRIS Account. Neither the defendants, their counsel, nor the PEC shall be entitled to interest generated from the CRIS Account. This Court imposes no responsibility upon them for paying taxes on any such interest.

  5. The fees and expenses of the Special Master shall be paid from the CRIS Account upon application to and approval by the Court. Neither the defendants, their counsel, nor the PEC shall have responsibility for paying any such fees or expenses.

  6. Upon making any Claim Payment in any Federal Rezulin Case or any Electing State Rezulin Case, each defendant shall fully complete a Tender of Payment Form. A copy of the Tender of Payment Form approved by the Court is attached as Exhibit 1. Each defendant who makes a Claim Payment subject to the terms of Pretrial Order No. 67 shall require that each claimant/plaintiff or his or her counsel fully complete plaintiff's portion of the Tender of Payment Form before defendant distributes any payment of settlement/judgment monies to any claimant/plaintiff or their counsel. Every claimant/plaintiff's counsel (and their firms) receiving any portion of a fee from the settlement/judgment must be listed on the form.

  7. At or before the distribution of any Claim Payment, the defendant shall Page 3 forward a cashier's check or wire transfer for the Escrow Amount, along with a completed copy of the authorized Tender of Payment Form, to the Special Master. All wire transfers must be pre-approved by the Special Master in advance.

  8. Upon receipt of Escrow Amounts, the Special Master shall immediately deposit those funds into the CRIS Account and complete the "For Special Master's Use Only" section of the Tender of Payment Form. The Special Master shall forward one copy of the completed Tender of Payment Form to each of the "Remitting Counsel" and the "Opposing Counsel" identified on the Tender of Payment Form, using envelopes marked "Personal and Confidential." The Special Master shall not send the Tender of Payment Form, or disclose any of its contents, to any other person or entity.

  9. The Special Master shall maintain copies of the Tender of Payment Forms and keep records so that in the event that the Court directs a refund of any CRIS Account funds at any time, the Special Master will be able to account accurately for and distribute those funds as this Court may direct.

  10. There shall be no requirement for defendants to complete Tender of Payment Forms to the extent that defendants have withheld Escrow Amounts pursuant to Pretrial Order No. 67 but, pursuant to Pretrial Order No. 128, have delayed payment into a CRIS Account until the entry of this Order. All such sums shall be paid to the Special Master within 30 days of the entry of this Order, including interest accrued at the same rate at which it would have accrued in a CRIS account from the date of that Claim Payment until the date that payment is made to the Special Master. Defendants shall provide to the Special Master all documentation requested by her to verify all of the relevant identifying information relating to each of such Claim Payments, and that all appropriate Escrow Amounts have been deducted from all Claim Payments subject to Pretrial Order No. 67. The Page 4 Special Master shall certify to the Court and to the PEC that the appropriate amounts have been deducted and paid into the CRIS Account.

  11. Except upon Order of this Court, the Special Master shall not disclose to anyone the identities of settlingparties, the amount of settlements, or any other information disclosed to her pursuant to ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.