Multidistrict Litigation (MDL) Accounting
Mass Tort Common Benefit Time and Expense Collection, Validation, Reporting, and Fund Administration
Skorheim & Associates utilizes its proprietary system for collecting time and expense records for all law firms providing common benefit services, and aggregates that information into clear and concise reports that allow Plaintiffs’ Lead Counsel and Courts to focus their valuable time and efforts on substantive case-work, rather than worrying about time and expense submissions from common benefit attorneys. Our flexible platform allows us to collect the information up-front that will make quick work of providing a fair and equitable allocation of settlement funds set aside for common benefit work. Our team of CPAs and Attorneys understand Multidistrict Litigation and can provide the perspective you need to ensure everyone is adhering to your Court’s common benefit order (CBO). We are experienced in collection of time and expense records, reporting, reviewing those records for deficiencies, sending deficiency letters, scrutinizing deficiency cures, and preparing an allocation of common benefit funds for court-review.
We are also experienced in Common Benefit Fund Administration. We make use of a Qualified Settlement Fund (QSF) to obtain a tax ID number, open the QSF Trust accounts with a reputable financial institution, setup very easy steps for defendants to remit settlement funds set aside for common benefit work, protect common benefit fund assets when FDIC insurance limits are exceeded, prepare the annual tax returns, and after an allocation is ordered by the court, quickly and efficiently process payment to common benefit attorneys.