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court's approval, which was not necessary under the agreement
reached.
On August 13 and 14, 1990, a settlement agreement was
signed, binding the Bank Defendants on one hand and the milk
producers and Danish Creamery on the other. The Bank Defendants
agreed to pay a total of $20 million in exchange for release of
all of the milk producers and Danish Creamery claims. Funds were
to be distributed among plaintiffs in both suits by plaintiffs'
counsel.
The record is not clear exactly how the $20 million was
allocated among the plaintiffs. While there seems to be some
relationship between the amount recovered and the lost milk
money, there was not a pro rata distribution based on an exact
percentage. For instance, petitioners recovered the following
amounts:
Petitioners Amount Owed Recovered Percent
Knevelbaard $58,500 $31,391 53.7
Gomes 118,369 162,368 52.7
Kooistra 10,000 4,993 49.9
Christian 12,719 6,487 51.0
A.L. Souza 37,000 18,721 50.6
P.A. Souza 37,000 18,721 50.6
Brown 16,105 8,545 53.1
1Petitioners Gomes received $2,012 of this amount in 1991.
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