Settlement agreement reached in E-Z Pay bankruptcy case

Jacksonville, Fla.鈥擜 June 6 settlement agreement was reached between a Chapter 7 trustee, Alternative Debt Portfolios, L.P., Alternative Debt Portfolios, LLC, and certain settling dentists regarding the E-Z Pay Services, Inc. bankruptcy case in the U.S. Bankruptcy Court in Jacksonville, Fla. The agreement will bring finality to pending lawsuits and prevent future litigation.

The court will consider the joint motion, which directs ADP to waive all of its claims, allow the trustee to retain for creditors millions of dollars already remitted by ADP, fund an additional $2.7 million for dentist creditors and pay $500,000 toward reimbursement of dentists’ legal fees.

Dentists who object to the relief requested in the terms of the settlement must file a written objection to be received before the June 27 hearing by the Clerk of the Court at the U.S. Bankruptcy Court, 300 North Hogan St., Jacksonville, FL, 32202.