In bankruptcy proceedings, is a class action superior to the claims administration process as a vehicle for resolving claims under the federal and New York State Workers Adjustment and Retraining Notification Act (the “WARN Act”)? In Schuman v. The Connaught Grp., Ltd. (In re The Connaught Grp., Ltd.), Case No. 12-01051, Slip Op. (Apr. 17, … Continue Reading
Baker Hostetler serves as court-appointed counsel to Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Securities LLC (“BLMIS”). In January of 2011, the SIPA Trustee obtained approval from the United States Bankruptcy Court for a $5 billion settlement for BLMIS customers with allowed claims. At the same time, the Bankruptcy Court … Continue Reading
Baker Hostetler serves as Court-appointed counsel to Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (“BLMIS”). In December 2010, the Trustee obtained a $5 billion settlement for BLMIS customers with allowed claims. Plaintiffs in putative class actions challenged the settlement and the Bankruptcy Court’s decision holding that the class … Continue Reading
