Source: San Diego Union Tribune
"After nearly scuttling Metabolife International's long-awaited bankruptcy plan, a San Diego bankruptcy judge yesterday said he will approve it, clearing the way for the former diet-pill maker to settle more than 250 personal injury lawsuits. AdvertisementAt times, approval of the plan, which took more than 2˝ years to forge and negotiate, seemed a distant possibility. But about 20 attorneys representing the numerous and often feuding parties in the case acted almost as one to coax a reluctant judge to approve the plan.
The proposed plan calls for Metabolife, its owners, insurers and the retailers who sold the company's now-banned ephedra product, Metabolife 356, to create a $56 million pool from which to pay claims. In return, those parties are seeking broad exemption from any ephedra-related claims in the future, including claims of “willful misconduct.”
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