NECC Second Payments Expected This Summer
The tort trustee in the NECC MDL proceeding and bankruptcy proceeding reported at a status conference this week that the second payment of monies to resolve the claims involving NECC are expected to be made yet this summer. The tort trustee also indicated that the amount of the second payments should be comparable to the amount of the initial payments received by claimants.
There is also a report of a possible third payment to claimants depending upon tax refunds that might be forthcoming involving NECC and its related entities. A third payment is just a possibility at this point with more information to be forthcoming.