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In Re Yasmin and Yaz (Drospirenone) Marketing v. Bayer Healthcare Pharmaceuticals

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF ILLINOIS


April 23, 2013

IN RE YASMIN AND YAZ (DROSPIRENONE) MARKETING, SALES PRACTICES AND RELEVANT PRODUCTS LIABILITY LITIGATION PLAINTIFF
v.
BAYER HEALTHCARE PHARMACEUTICALS, INC., ET AL. DEFENDANTS.

The opinion of the court was delivered by: Judge David R. Herndon

COMPLAINT AND JURY TRACY A. HERRING, AND RELATED CASES (SEE EXHIBIT I) ORDER ON AMENDED MOTION ESTABLISHING QUALIFIED SETTLEMENT FUND DEMAND

Striking and Replacing Previous QSF Order (Doc. 10)

Upon the Amended Joint Motion to Establish Qualified Settlement Fund (Doc. 12), and for good cause shown, the Court hereby Orders:

1. McGartland & Borchardt, LLP ("M & B") has settled the instant case as well as those identified in the attached "Related Cases Exhibit" and desires to establish a "Qualified Settlement Fund" ("QSF") to aid in administration of those settlements.

2. The McGartland & Borchardt LLP YAZ Qualified Settlement Fund is established as a QSF within the meaning of Treas. Reg. § 1.468B-1 and pursuant to the jurisdiction conferred on this Court by Treas. Reg. § 1.468B-1(c)(1).

3. The Garretson Firm Resolution Group, Inc. is appointed as administrator (the "Fund Administrator") pursuant to the terms, conditions and restrictions of the Escrow Agreement and is hereby granted the authority to conduct any and all activities necessary to administer this QSF as described in the Escrow Agreement.

4. The Fund shall be held at JP Morgan ("Bank"), a financial institution doing business in Fort Worth, Texas according to the terms, conditions and restrictions of this Order.

5. The Fund Administrator is authorized to effect qualified assignments of any resulting structured settlement liability within the meaning of Section 130(c) of the Internal Revenue Code to the qualified assignee.

6. Upon final distribution of all monies paid into the QSF, the Fund

Administrator shall take appropriate steps to wind down the QSF and thereafter shall be discharged from any further responsibility with respect to the QSF.

SO ORDERED:

Digitally signed by

David R. Herndon Chief Judge United States District Court

Date: 2013.04.23 14:57:47 -05'00'

20130423

© 1992-2013 VersusLaw Inc.



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