to the The New Hampshire Medical Malpractice Joint Underwriting Association.
For those present and former policyholders of the JUA who are expecting to receive a distribution of money pursuant to the recent court decision, please note that on November 15, 2012, $85 Million was delivered into the hands of the Claims Administrator selected by the Class Counsel and charged with the distribution in accordance with the Order of the Superior Court dated October 9, 2012.
That Court Order states:
"Part of the funds, totaling $85,000,000, are available for distribution, while the remaining $25,000,000 will be held as a Federal Tax Reserve. These two components of the Distribution Fund may be available for distribution to the Class at different times, as the Internal Revenue Services ("IRS") process is continuing. Accordingly, the Court hereby authorizes Class Counsel and the Claims Administrator to proceed with two separate distributions to the Class. The Court finds that the marginal cost associated with a second mailing after the IRS issues are resolved is outweighed by the benefits of providing the class with payments from the interpleaded funds as soon as practicable."
The JUA has completely complied with the Order of the Court and has delivered the $85 Million as required. It continues to hold the $25 Million as it works to resolve the tax issue with the Internal Revenue Services. The JUA has no control or authority to distribute the $85 Million.
Any persons seeking additional information should contact the Administrator - Garden City Group at 888-714-2403.
Please click on the message button to the left to view a personal message from Merwyn Bagan, MD.