maintained by John DeGroote Services, LLC, Trustee


Case Update – March 21, 2013

March 21st, 2013 - Case Updates

Motion to Approve Settlement Filed

Today John DeGroote Services, LLC filed with the United States Bankruptcy Court for the Southern District of New York a Motion for Entry of an Order Approving Settlement Between the Liquidating Trust and F. Edwin Harbach, Albert L. Lord, Roderick C. McGeary, J. Terry Strange, Douglas C. Allred, Betsy J. Bernard, Spencer C. Fleischer, Jill Kanin-Lovers and Edward Munson and Authorizing Settlement Payment.  Under the settlement the Trust will receive $55,000,000, with no admission of liability, and a release of claims, by all parties. Three former directors of BearingPoint have agreed to dismiss a lawsuit they recently filed in Virginia against John DeGroote, and DeGroote has agreed to dismiss his request to the New York Bankruptcy Court to hold the three former directors in contempt and impose sanctions for violating a court order by filing the lawsuit against him in Virginia.