Fed. Bankruptcy court grants MYD Samoa motion


MYD Samoa Inc.'s request to the federal bankruptcy court in south Florida to approve the final payment of $100,000 from National Pacific Insurance for MYD’s 2009 tsunami insurance claims was granted more than a week ago.

No interested parties responded to the motion filed by MYD federal trustee Deborah Menotte on July 11, for the court’s approval of the tsunami settlement with NPI. All interested parties were given until Aug. 3 to respond.

On Aug. 7 another motion was filed by the trustee’s attorneys.

“The proposed settlement provides for the Trustee to receive a final additional payment of $100,000 in respect of an insurance claim submitted by National Pacific Insurance arising from a tsunami event on Sept. 29, 2009,” the motion states.

A few days later U.S. bankruptcy judge Raymond B. Ray approved the motion, saying that there were “no timely objections” filed with the court.

MYD previously managed the now ASG operated shipyard, which was damaged by the September 2009 tsunami.


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