- FRBP
In re Local Serv. Corp.
Dec
19
2011
Ruling
Trustee's settlement of fraud claims that would be expensive and difficult to prove approved in best interests of estates' creditors.
Procedural posture
A chapter 7 trustee and a chapter 11 trustee filed a motion under 11 U.S.C.S. § 105 and Fed. R. Bankr. P. 9019 to approve a settlement agreement of adversary proceedings alleging fraudulent conveyance against a limited liability company (LLC) and against the chapter 7 debtor's wife. One creditor objected to the proposed settlement.
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Court
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