by remberger » Thu Jan 10, 2019 12:17 pm
Hi everyone. Happy New Year!
When Avaya made its first distribution for our supplemental pensions, it reserved enough money to pay an additional $33.5 million in claims (at the same rate that we were paid). (Docket 2194) To the extent that any money was left over after those claims were paid, we would all share proportionately in any funds that were left over. If all of the $33.5 million were disallowed, we would get an additional 2.6% distribution beyond the 19.8% we already received. Clearly, not all of the claims will be thrown out, but we should get a little bit more this year. Based on the filings made so far, here is the status of the $33.5 as of January 9.
Claims with no progress (that I can detect) : $4,458,370.
There are 5 claims in this group – 2 by Spirent, and one each by SAE Power, Alan Wattenmaker, and the State Board of Equalization. The biggest claim in this group is SAE Power which Judge Bernstein estimated at $3,252,182. At one time, Avaya asked for this claim to be expunged.
Claims with the objection date extended to March 15: $30,761
There are two claims, both by the state of Tennessee
Claims settled for an unspecified amount: $28,619,200
Four (4) claims have been settled confidentially. (Straight Path, AT&T Services, Charter, and Angela Adams DeCarlo) To the extent that these claims were settled for less than the full amount, there may be some money left in the pot. When Avaya files its next quarterly report to the court, we may be able to deduce the amount paid in total, but not the individual settlements.
Claims settled for the scheduled amount: $25,647
Two claims were settled for the amount assumed in Docket 2194. (Frontier Communications and Michael Carson). There is no left over money from this group to distribute.
Claims settled for $0.
Four (4) claims were settled with no payment. (Polycom, City of Albany, County of San Diego, Jon Shaw). These claims were reserved at $367,242. Funds from these claims will be distributed proportionately when Avaya makes its next distribution.
I intend to keep tracking the status of these until they are all resolved.
Bob Emberger