Judge Dennis Montali has canceled the first hearing on a liquidation plan in the Heller bankruptcy, pending the outcome of mediation talks between former shareholders and creditors. The stakes in the mediation are high. Creditors want $150 million from Heller's former shareholders, claiming the firm fraudulently conveyed that amount to them, while at least one group of shareholders has hired John Keker of Keker & Van Nest if the case goes to trial, according to confidential mediation briefs obtained by The Recorder .
November 05, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Judge Dennis Montali has canceled the first hearing on a liquidation plan in the Heller bankruptcy, pending the outcome of mediation talks between former shareholders and creditors.
Heller’s creditors and at least four groups of shareholders appeared for their first mediation conference on Friday before Judge Randall Newsome for the U.S. Bankruptcy Court for the Northern District of California.
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