We lost less than five thousand dollars, and have been receiving these letters from various companies with offers that range from about 15% to about 30%. We'd basically given up all expectations of getting anything back, so were intrigued by the offers. Because our loss was comparatively small, we've just been waiting to see what develops. We also just received a letter from the US Bankruptcy Court that states Aug 31 is the final date for identifying those who have claims for final distributions, so perhaps this is moving towards resolution.

Linda Lewis

Linda K. Lewis
Collection Development
University of New Mexico Libraries
505-277-7828
llewis@unm.edu

>>> Jim Flury <jflury@TLN.LIB.MI.US> 8/20/2008 12:26 PM >>>
We did not lose any money in the divine/RoweCom debacle (we heard the bankruptcy rumors and pulled our check, already made out to RoweCom and ready to mail, out of the safe just in time) so I have not been paying very close attention to the proceedings.  But one of our libraries did lose money, and they sent me the following email, which I would like to post here to gather information as to what other libraries are doing with regards to the settlement offers they are receiving.

"This is before my time here, but evidently we have a claim on the settlement from the RoweCom bankruptcy. I have gotten an offer from Fair Harbor Capital who's offering to purchase our interest in the claim at about 30% of the value of the claim. I have no idea if that is a smart move or not. What are other libraries doing? Any opinions?"

Sincerely,

Jim Flury

Jim Flury
Head of Acquisitions Services
The Library Network
13331 Reeck Road
Southgate, MI 48195
734-281-3830
Fax 734-281-1817
jflury@tln.lib.mi.us