Benefits of the Settlement. 1. Trade, construction, and other creditors exist for Phases I through VI and Phase VIII. The Settlement Agreement provides funds for them to be paid, which is necessary for the Xxx Peak Resort and Xxxxx Mountain Hotel properties to be clear of liens and to obtain goods and services on the most favorable terms available.
2. With respect to the Hotel Suites Phase I investors, the Settlement Agreement provides for the return of their capital investment (not including administrative fees), less sums previously paid to them, and provides benefits to investors in Xxx Peak Phases II through VI who receive the underlying assets of what was previously owned by the investors in Phase I.
3. With respect to Biomedical Phase VII, and all investors in Q Xxxxx Phase VIII who are not eligible to apply for unconditional permanent residency due to the failure of the partnership to create the requisite number of jobs, the Settlement Agreement provides for the return of their capital investment (not including administrative fees), as the ability to receive an unconditional visa was not created. The Receiver has agreed to allow these investors to file a claim in the Receivership Estate for up to $50,000 for the administrative fees they paid Xxx Peak in connection with their investments, to be paid from their proportionate share of the property in their respective partnerships.
4. The Settlement Payment thus enhances the value of Phases II through VI and Phase VIII by allowing the Receiver to pay trade and construction creditors and other debts, adds the assets of Phase I to the Phase II through VI pool of assets, and requires the Receiver to contribute assets from the Receivership Estate necessary to run the Xxx Peak Resort and Xxxxx Mountain Hotel that otherwise did not belong to the limited partnerships, thus allowing the Xxx Peak Resort and Xxxxx Mountain Hotel to be sold free and clear and as a whole. This enhances the ability to sell the Xxx Peak Resort and the Xxxxx Mountain Hotel with all associated assets and rights, thus enhancing their value for the benefit of their investors.
5. The Receiver agrees to release necessary claims by one entity against the others to the extent that funds of later phases were used to pay expenses and cost overruns of other phases.
6. With respect to unfinished construction at Phase VI, the Settlement Agreement provides immediate funds to complete it, which enhances not only the value of Phase VI specifically, but also the value of Phases...
Benefits of the Settlement. 3.1 Plaintiffs believe that the claims they have asserted against the Defendant in the Action on behalf of Atmel have merit. However, Plaintiffs’ Counsel recognize and acknowledge the expense and length of continued proceedings necessary to prosecute the Action against Defendant through trial and through appeals. Plaintiffs’ Counsel have also taken into account the uncertain outcome and the risk of any litigation, especially in complex actions such as this one, as well as the difficulties and delays inherent in such litigation. Plaintiffs’ Counsel are also mindful of the inherent problems of proof and possible defenses to the claims asserted in the Action, or that may be asserted. Based on their evaluation, Plaintiffs and Plaintiffs’ Counsel have determined that the settlement set forth in the Agreement is in the best interests of the Plaintiffs, Atmel, and Current Atmel Shareholders. Plaintiffs’ Counsel believe that the Settlement set forth in the Agreement confers substantial benefits upon Atmel and Current Atmel Shareholders.
3.2 Defendant has indicated his intent to vigorously contest each and every claim in the Action. Defendant has consistently maintained that he acted in accordance with governing laws at all times and that he had no involvement in the alleged wrongdoing. Defendant contends that he has also compiled testimony and documentary evidence from which he is prepared to demonstrate that he had no involvement in the alleged wrongdoing. In addition, there has been no finding whatsoever, by any court or agency, of any wrongdoing of any kind on Defendant’s part.
3.3 Defendant nonetheless has concluded that it is in his best interests that the Action be settled on the terms and conditions set forth in this Agreement. Defendant reached that conclusion after considering the factual and legal issues in the Action, the substantial benefits to Defendant of a final resolution of the Action, the expense that would be necessary to defend the Action through trial and through any appeals that might be taken, the benefits of disposing of protracted and complex litigation, and the desire of Defendant to conduct his business unhampered by the distractions of continued litigation.
Benefits of the Settlement. Class Counsel and Class Representatives believe the Settlement confers substantial benefits upon the Class, as identified below, particularly as weighed against the risk associated with the inherent uncertain nature of a litigated outcome; the complex nature of the Action in which the Parties have produced tens of thousands of pages of documents, taken and defended depositions, served and pursued third-party subpoenas for documents, and retained, disclosed and produced reports of chemical formulation experts, damages experts, and consumer survey experts; and the length and expense of continued proceedings through additional fact depositions, expert depositions, third party document productions and depositions, summary judgment briefing, trial and appeals. Based on their evaluation of such factors, Class Counsel and Class Representatives have determined that the Settlement, based on the following terms, is in the best interests of the Class.
Benefits of the Settlement. 7 2.1. Class Counsel and Class Representative recognize and acknowledge the expense 8 and length of continued proceedings that would be necessary to prosecute the Action through 9 trial and appeals. Class Counsel has also taken into account the uncertain outcome and risk 10 of any litigation, especially in complex actions such as this, as well as the difficulties and 11 delays inherent in such litigation. Class Counsel is mindful of the inherent problems of proof 12 under and possible defenses to the claims asserted in the Action, including BetterBody’s 13 position that its customers were not misled by the labels and that, even if they were, full 14 restitution of the purchase price is excessive in light of the fact that Class Members still 15 received a product value that should equitably offset restitution. Class Counsel believes the 16 Settlement confers substantial benefits upon the Class. Based their evaluation of all these 17 factors, Class Representative and Class Counsel have determined that the Settlement is in the 18 best interests of the Class.
Benefits of the Settlement
