In re Indus. Commer. Elec. Inc.
Feb
14
2006
Ruling
Court denied a motion to approve a settlement since the movants'proposed order required the dismissal of an action filed by the IRS in another court.
Procedural posture
Movants, the debtors, a bank, and the official committee of unsecured creditors, sought entry of an order pursuant to 11 U.S.C. § 105(a), for approval of a settlement reached between the three moving parties. The IRS objected to the motion on several grounds, including the fact that the settlement would preclude the IRS from proceeding against the bank in a related district court proceeding.
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Court
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