UPDATE: Fairness Hearing Of September 21, 2009 

The Fairness Hearing held on September 21, 2009 went very well. No objections were made, and the Settlement Agreement was approved as drafted and signed by the Parties. The Court signed a Final Order in the case which triggers the 270-day period for Final Payment of Settlement Funds by the Trustee, as the Settlement Agreement provides.

The B Bond Claims are currently being reviewed by counsel for Bank of America. If the Bank of America disagrees with any of Class Counsel’s “approvals,” we will meet to attempt to resolve issues. If the Parties cannot agree, we will approach the Court for a methodology of resolution.

Foreclosure proceedings concerning the Mid-Continent Tower were initiated on September 21, 2009 after the Court signed the Final Order. It will take some months for those proceedings to unfold and for the Tower to be sold. Various uncertainties in that process make it impossible to predict when you will receive your portion of monies from that sale.

Updates will be provided on this site when necessary.