The opinion of the court was delivered by: Thomas Hogan, Chief Judge, District
[PROPOSED] ORDER APPROVING INTERIM PAYMENT
TO CLASS ADMINISTRATOR
WHEREAS Direct Purchaser Class Plaintiffs have moved this Court for an order approving the payment of interim costs incurred by Class Counsel in connection with the payment of outstanding invoices of Poorman-Douglas Corporation, Class Administrator, which is currently administering the claims process and the distribution of payments to the Class Members out of the Direct Purchaser Settlement Fund; and
WHEREAS this Court has approved the settlements between Direct Purchaser Class Plaintiffs and all Defendants, and the Final Order and Judgment Approving Settlement between Direct Purchaser Class Plaintiffs and Defendants was filed on June 16, 2003; and
WHEREAS this Court has approved the appointment of Poorman-Douglas Corporation as Class Administrator to administer the distribution of the Notice of Proposed Settlement and [ Page 2]
Proof of Claim Forms, publication of Summary Notice and to process all Proofs of Claim and distribute the Direct Purchaser Settlement Fund to all eligible Class Members by Order filed April 11, 2003; and
WHEREAS this Court has ordered that the Class Administrator be compensated from the Direct Purchaser Settlement Fund Account for its services in connection with the notice and administration and the costs of giving mailed and published notice by Order filed April 11, 2003; and
WHEREAS, in the Final Order and Judgment, this Court has approved the notice of the settlement to the Class Members and the Allocation and Distribution Plan as proposed by Class Plaintiffs, and directed the Class Administrator to distribute the Direct Purchaser Settlement Fund in the manner provided in the Allocation and Distribution Plan; and
WHEREAS pursuant to paragraph 5(b) of the Escrow Agreement, the Court is required to approve notice costs and administrative costs and expenses prior to disbursement of funds by the Escrow Agent out of the Direct Purchaser Settlement Fund Account; and
WHEREAS Poorman-Douglas Corporation has submitted to Class Plaintiffs invoices in the amount of $85,970.81 for services rendered through June 9, 2003 in connection with the administrative costs of the mailing the Notices of the Proposed Settlement and Proof of Claim Forms to Class Members on April 17, 2003; the publication of Summary Notice in certain publications in April and May 2003; and other services related to correspondence with Class Members and Class Counsel and preparation for the processing of claims submitted by Class Members, and such invoices are outstanding at this time; and [ Page 3]
WHEREAS Class Plaintiffs desire to not require Poorman-Douglas Corporation to wait until the end of the entire claims process to receive payment on these outstanding invoices for such services rendered through June 9, 2003.
NOW THEREFORE, IT IS HEREBY ORDERED that:
1. An interim payment in the amount of $85,970.81 to Poorman-Douglas Corporation is approved, to be paid out of the Direct Purchaser Settlement Fund for services rendered through June 9, 2003.
2. The Escrow Agent for the Direct Purchaser Settlement Account is authorized and directed to disburse $85,970.81 to Class Counsel in order to pay such invoices of Poorman-Douglas Corporation. [ Page 1]
© 1992-2003 VersusLaw ...