Source: Insurance News Net 10/8/2007
Judge Approves Metabolife Liquidation Plan
The settlement resolves 257 ephedra claims not covered by Metabolife's insurers. About $1.5 billion in ephedra claims were filed against the company, the company said in its liquidation plan.
Metabolife and its shareholders, including three of its owners, will provide $21.1 million to the settlement.
The rest of the contributing parties, including the debtor's insurers and retailers that sold Metabolife's ephedra products, will provide the remaining $34.7 million, according to the plan.
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