On May 18, 2012, the Liquidating Trustee filed with this Court his Motion For Approval of Settlement with Michelle Bachmann, Bachmann for Congress and Bachmann Minnesota Victory Committee and Payment of Contingency Fee [ECF No. 1242] (the “Original 9019 Motion”). Shortly after the Original 9019 Motion was filed, the PCI Trustee (as defined herein) asserted claims against the Bachmann Parties (as defined herein) for the return of the transfers covered by the settlement. The parties have since engaged in further discussions and negotiations which have resulted in a modification of the previously agreed to settlement to include a settlement with, and release by, the PCI Trustee, as set forth below.The $14,000.00 settlement will be divided between PCI trustee ($8,600.00) and the Palm Beach Trustee ($5,400.00).
Also the Fidelis Foundation has to cough up $425,000.00 to the trustees.
