IN THE UNITED STATES BANKRUPTCY COURT

FOR THE SOUTHERN DISTRICT OF WEST VIRGINIA

In Re: Surnaik Holdings of WV LLC

SURNAIK HOLDINGS OF WV LLC

CLASS ACTION SETTLEMENT

NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION LAWSUIT

If you lived in, or operated a business in, the area around a warehouse fire that occurred on October 21, 2017, in Parkersburg, West Virginia, and you meet other requirements, you could receive a payment from this class action settlement.

A federal bankruptcy court authorized this notice.

This is not a solicitation from a lawyer.

  • Plaintiff Paul Snider (“Snider”) brought a lawsuit alleging that Surnaik Holdings of WV, LLC (“Surnaik”) was liable to Snider, and other similarly situated individuals, for a warehouse fire that occurred on October 21, 2017, in Parkersburg, West Virginia. Surnaik denies the allegations in the lawsuit.

  • On January 20, 2023, Debtor filed its bankruptcy petition (the “Bankruptcy”) in the United States Bankruptcy Court for the Southern District of West Virginia, (the “Bankruptcy Court”), styled In re: Surnaik Holdings of WV, LLC, No. 6:23-bk-60006;

  • As part of the Bankruptcy, Snider and Surnaik have agreed to a proposed Settlement, which affects all individuals, businesses and certain government bodies who lived in, or operated a business in, the Claim Area (as that term is defined by the Wood County Circuit Court’s Order Granting Class Certification) around the warehouse fire.

Surnaik has agreed to distribute $2,500,000 from its Bankruptcy estate into a fund from which persons who file timely and valid claims will receive cash payments. In exchange for their work on behalf of the class, court-appointed lawyers for the class (“Class Counsel”) will ask the Bankruptcy Court for up to 22.5% of the net distribution fund and will also ask to be reimbursed for out-of-pocket litigation expenses not to exceed $100,000. As part of the Settlement, Settlement Class Members release Surnaik, together with Dr. Saurabh Naik, International Export Import, Inc., Polymer Alliance Services, LLC, together with their respective predecessors, successors, parent entities, subsidiaries, members, shareholders, officers, directors, partners (the “Naik Related Parties” and collectively with Surnaik, the “Released Parties”) from liability and waive any and all claims that could have been brought, know or unknown, as a result of the warehouse fire. Class counsel estimates that, after Court approved deductions for costs and fees, each person who files a timely and valid claim will receive up to $60.

YOUR LEGAL RIGHTS AND OPTIONS

IN THIS SETTLEMENT

Submit a Settlement Claim Form

This is the only way to get a payment from the $2,500,000 Settlement fund. You can submit a timely claim form on this website or by mail to Claims Administrator, P.O. Box 673, Charleston, WV 25323. Your Settlement Claim must be filed on or before: August 16, 2024. If you fail to do so, you will not receive a payment from the Settlement fund. If your claim is determined to be valid, you will receive as much as $60 from the Settlement.

Do Nothing

Get no payment. You will remain a member of the Settlement Class, which includes a release of claims.

Exclude Yourself OR “Opt Out” of the Settlement by Filing a Bankruptcy Claim

Instead of submitting a Settlement Claim Form, you can opt out of the Settlement. Also, instead of submitting a Settlement Claim Form, you can file a Bankruptcy Proof of Claim Form against Surnaik. You must mail or hand-deliver the Bankruptcy Claim Form to the Clerk, United States Bankruptcy Court, Robert C. Byrd United States Courthouse, 300 Virginia Street, East, Rom 3200, Charleston, WV 25301. The Clerk must receive your Bankruptcy Proof of Claim on or before: August 16, 2024. You can obtain a Bankruptcy Proof of Claim Form on this website, by mailing a request to P.O. Box 673, Charleston, WV 25323, or by emailing your request to the Claims Administrator at [email protected]. If you file a Bankruptcy Proof of Claim Form, you will not be eligible for a payment from the $2,500,000 Settlement. Instead, your claim will be treated under applicable bankruptcy laws, and if you have an allowed claim, it may be paid from the Surnaik bankruptcy estate but only to the extent funds exist for payment. There is no guarantee that funds will be available to pay valid and allowed bankruptcy claims. If you “Opt Out” you will not waive any rights you may have with respect to the Naik related entities.

Object

Write to the Bankruptcy Court to explain why you believe the Settlement is unfair. Your objection to the Settlement must be filed with the Bankruptcy Court no later than August 16, 2024.

Go to a Hearing

Ask to speak in Court about the fairness of the Settlement.