Schaeppi v. Bayer Schering Pharma AG et al

Filing 7

ORDER re 6 MOTION for Settlement filed by Sarah Schaeppi. Signed by Chief Judge David R. Herndon on 1/16/2013. (dsw)

IN THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF ILLINOIS
IN RE: YASMIN AND YAZ
(DROSPIRENONE) MARKETING, SALES
PRACTICES AND PRODUCTS LIABILITY
LITIGATION

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3:09-md-02100-DRH-PMF
MDL No. 2100

This Document Relates to:
SARAH SCHAEPPI,
Plaintiff,

v.
BAYER SCHERING PHARMA AG and
BAYER HEALTHCARE
PHARMACEUTICALS, INC.,

3:10-cv-11512-DRH-PMF

Defendants
And Related Cases (See Exhibit 1 to motion to establish QSF)
ORDER
to Administer Settlements Resolving Cases and Claims of Wexler
Wallace LLP Plaintiffs and Establish Qualified Settlement Fund

HERNDON, Chief Judge:
For good cause shown, the Court hereby Orders as follows:
1.

In order to assist in the administration of the settlement of

claims brought by the clients of the law firm of Wexler Wallace LLP
(including ALL Yaz clients of Wexler Wallace LLP who are similarly situated,

listed in Exhibit 1, including settlements that may be entered into
hereafter), the Wexler Wallace LLP Yaz Client Settlement Fund (the “Fund”)
shall be established as a Qualified Settlement Fund within the meaning of
Treasury Regulation Section 1.468B-1 and pursuant to this Court's subject
matter jurisdiction under Treas. Reg. Section 1.468B-1(c)(1). The Fund
shall be governed by Section 468B of the Internal Revenue Code, together
with the Treasury Regulations promulgated thereunder, and all such
administrative announcements, notices, and information releases as shall
be published by the Internal Revenue Service from time to time. All Yaz
settlements reached by and between Plaintiffs who are represented by
Wexler Wallace LLP and Defendants shall be paid into the Wexler Wallace
LLP Yaz Client Settlement Fund as provided in the Motion To Administer
Settlements Resolving Cases And Claims Of Wexler Wallace LLP Plaintiffs
And Establish Qualified Settlement Fund.
2.

The Fund shall remain subject to the continuing jurisdiction of

this Court during the entirety of its existence.
3.

Signature Bank is appointed as Fund Administrator pursuant

to the terms, conditions and restrictions of the Motion To Administer
Settlements Resolving Cases And Claims Of Wexler Wallace LLP Plaintiffs
And Establish Qualified Settlement Fund and said Fund Administrator is
given the authority to conduct any and all activities necessary to administer
this Fund as described in said Motion.

4.

All monies received by the Fund shall be placed into an

account at Signature Bank and shall only be distributed as provided for in
the Motion Establishing the Qualified Settlement Fund and Appointing
Fund Administrator.
5.

The Fund is authorized to enter into Fund Agreements with

Plaintiff clients of Wexler Wallace LLP, as well as with Claimants who are
represented by Wexler Wallace LLP in future YAZ settlements, who are
claiming damages or injury, including any entity asserting a statutory claim
of subrogation, as a result of the Incident, including the use of settlements
with periodic payments in a manner prescribed and approved by this
Court.
6.

The Fund is authorized to effect qualified or non-qualified

assignments of any resulting structured settlement liability.
7.

The Fund Administrator is authorized to distribute all attorney

fees and litigation expenses to counsel for Plaintiffs, consistent with their
existing contingency fee contracts including the use of structured attorney
fees.

8.

The Fund Administrator is authorized, upon completion of all

Fund Agreements and final distribution of all monies paid into the Fund, to
take appropriate steps to wind down the fund, and thereafter the
Settlement

Fund

Administrator

is

discharged

from

any

further

responsibility with respect to the Fund.

IT IS SO ORDERED.
Digitally signed by
David R. Herndon
Date: 2013.01.16
13:14:44 -06'00'
Chief Judge
United States District Court

Date: January 16, 2013