Metabolife successor wants to settle suits

Metabolife successor wants to settle suits SAN DIEGO: The successor to Metabolife International Inc. wants to use $130.4 million in insurance money to settle ephedra-related diet pill lawsuits, a report said.

In a bankruptcy court filing, San Diego-based MII Liquidation Inc. proposed using the $130.4 million in insurance proceeds to settle 21 suits and avoid a trial.

Approving the settlements and setting up streamlined procedures for future settlements "is in the best interest of creditors and the estates because claims are being resolved in an expeditious and cost-effective manner," The Wall Street Journal reported of MII's request.

After settling the suits, MII said it would have $57.1 million remaining in coverage through Evanston Insurance Co. and National Union Fire Insurance Co. of Pittsburgh.

 

More METABOLIFE INTERNATIONAL, INC News and Articles

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• Metabolife Dieting Press Release
• Metabolife in Newsweek
• Metabolife Launches Two Stage Weight Management Program
• Judge Approves Metabolife Liquidation Plan
• Metabolife Plan To Be Approved
• Metabolife in the San Diego Union Tribune
• Metabolife successor wants to settle suits
• Metabolife Seeks Settlement OK

 

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