Source: Marketwatch 5/31/2006

Metabolife Seeks Settlement OK

Metabolife seeks OK to settle $130 mln in ephedra claims

WASHINGTON (MarketWatch) -- The former Metabolife International Inc. is seeking bankruptcy court approval to settle $130.4 million in ephedra-related claims using insurance proceeds, and establish a framework for settling additional claims tied to the diet pills it once made. "Approving these settlements and establishing stream-line procedures for future settlements is in the best interest of creditors and the estates because claims are being resolved in an expeditious and cost-effective manner," the company, now known as MII Liquidation Inc., said in a recent court filing. The proposed settlements would end 21 lawsuits against the company, and eliminate $130.4 million in claims. The company said the settlements won't affect the interests of its other creditors because the deals will be funded entirely from insurance proceeds. Burdened by hundreds of personal injury lawsuits related to its ephedra-containing products, the company filed for Chapter 11 protection from creditors in June 2005.


Related News

  • Michael Ellis Releases Metabolife Book
    "The Metabolife Story: The Rape of Cinderella" ( represents author and former CEO Michael Ellis' detailed account of the rise and eventual fall of Metabolife, one of the most successful, yet unfairly characterized dietary supplement companies in history. This book finally rev...  Read More...
  • Metabolife Dieting Press Release
    Holding on to unhealthy fat after an initialweight loss happens to everyone. Even top celebrities' recurring battlewith weight has been well documented in the press. This yo-yo tendencymakes the self promise to lose weight one of the top New Year's pledges andkeeps gyms in business when resoluteness...  Read More...
  • Metabolife in Newsweek
    So you're feeling a little thick around the middle and you've heard enough about abstinence and exercise. Wouldn't it be nice if you could pop a pill, stretch out in the BarcaLounger and incinerate calories like a long-distance runner? That's the idea behind a hot herbal supplement called Metabolife...  Read More...
  • Metabolife Launches Two Stage Weight Management Program
    Metabolife, a weight management industry pioneer that successfully helped millions of people lose weight, is back on shelves with a new two-stage supplement program and online support services. The program includes the newly reformulated flagship Metabolife Ultra which is based on clinically-tested ...  Read More...



New Companies on Npros

Receive News and
Updates from

 Send me news updates
 Send me New Companies

RSS Npros News Feed