| Hull House Bankruptcy Update - February 17, 2014 |
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Dear all, The attorneys for the Trustee in the Bankruptcy have agreed to give priority status to our claims for unpaid vacation and severance, and general status to our unreimbursed expenses and payment in lieu of notice. But they objected to our claims under the WARN Act, and also for the unpaid 401(k) contributions. As I indicated before, this is basically good news. It is likely that the amount of money available to pay any claims will be in the neighborhood of $500-600,000. Our total claims for vacation and severance add up to about $570,000. So, if the Trustee’s position is upheld by the Court, then we are in a good position to expect the payment of at least some of the vacation pay and severance. But in an effort to ensure that our members get as much as possible, our attorney has filed a Response in which he argues that we are also entitled to the WARN Act penalty amounts as a priority claim, and that the 401(k) amounts should be allowed as a general claim. The “general” claims are unlikely ever to be paid, but we want to be in the best position possible when this case finally comes to a close. And I am pleased that the attorneys for the Trustee have agreed to add the vacation accruals for the people we recently added to the list. There is a hearing on these objections and responses on Wednesday, February 19, at 10:30 a.m. in Room 742 of the Bankruptcy Court, Dircksen Federal Courthouse, before Judge Carol Doyle. As in the other hearings on these matters, there will be no testimony. It is largely a lawyer-to-lawyer event, and it will be over rather quickly. But if you wish to witness the proceedings, you certainly may attend. Our attorney will be in touch with me following the hearing, and I will send out another update when there is something further to report. In solidarity, Robert T. (Tim) Yeager Regional Organizer NOLSW/UAW Local 2320 542 S. Dearborn Street, Suite 490 Chicago, IL 60605-3503 312-461-0543, ext. 101 866-270-6659 toll free 312-218-1228 mobile 312-957-8091 FAX |
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