- FRBP
In re Panache Cuisine LLC
Sep
23
2013
Ruling
Approval of settlement denied as terms were not properly noticed and disclosed and one party had repudiated term beneficial to estate.
Issue(s)
Should bankruptcy court approve settlement where terms were not properly noticed or disclosed and one party had repudiated one of the terms .
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Court
:
- FRBP
Gordon Props. LLC v. First Owners Assn of Forty Six Hundred Condo. Inc. (In re Gordon Props. LLC)
Sep
19
2013
Ruling
Settlement of dispute with condominium association could not be approved due to debtor's excessive control over organization and lack of good faith decision making process.
Issue(s)
Could settlement of litigation with condominium association over which debtor exercised control be approved.
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Court
:
- FRBP
In re Florendo
Sep
13
2013
Ruling
Settlement of adversary proceeding for more than value that exceeded objecting creditor's valuation of assets approved.
Issue(s)
Whether a chapter 7 trustee's proposed settlement of an adversary complaint against debtors as to ownership of certain assets, claimed by them to be the property of a corporation owned by them, was reasonable.
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Court
:
- FRBP
In re Franks Oilfield Serv.
Aug
09
2013
Ruling
Objection to settlement filed 102 days after deadline for filing was untimely.
Issue(s)
Whether an objection an individual filed to a chapter 11 trustee's motion under Fed. R. Bankr. P. 9019 to approve a settlement of claims was timely.
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Court
:
- FRBP
In re Rich Global LLC
Jul
16
2013
Ruling
Settlement of cross appeals of judgment approved as in best interests of the estate.
Procedural posture
A creditor obtained a substantial judgment against a bankruptcy debtor, and the debtor and the creditor cross-appealed the judgment. The bankruptcy trustee moved for approval of a settlement to resolve the cross-appeals.
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Court
:
- FRBP
In re Evaluation Solutions LLC
Jun
27
2013
Ruling
Settlement of claims by company under security agreement after bank terminated master services agreement with debtor approved as efficiently resolving secured claims.
Procedural posture
Petitioners, a chapter 7 trustee and two creditors, filed a motion for approval of a settlement involving the creditors, a bank and a financial resources company. Respondent creditor filed objections. After conducting an evidentiary hearing, the court issued its findings of fact and conclusions of law. The debtors provided customized programs for mortgage services and lenders by a proprietary service platform dealing with real estate valuation.
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Court
:
- FRBP
In re City of Stockton
Apr
24
2013
Ruling
Chapter 9 debtor's settlement of claim involving certificates approved.
Procedural posture
Debtor City of Stockton, California, declared chapter 9 bankruptcy and asked the court to approve a Stipulation and Settlement Agreement it negotiated with the Stockton (California) Public Finance Authority, an insurer, and a bank that served as trustee under a trust agreement, with respect to certain certificates the City issued. The court held a hearing on the City's motion.
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Court
:
- FRBP
In re Bamberg County Mem. Hosp.
Apr
18
2013
Ruling
Settlement of claim after LLC's purchase of debtor's assets failed to close approved.
Procedural posture
Debtor hospital filed a petition under chapter 9 of the Bankruptcy Code, and an LLC that agreed to purchase the debtor's assets filed a claim in the amount of $1,054,173 against the debtor's bankruptcy estate after the sale did not close. The debtor and the LLC settled the LLC's claim, and the debtor asked the court to approve the settlement pursuant to Fed. R. Bankr. P. 9019. A company that sold health care equipment filed an objection.
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Court
:
- FRBP
In re Lehman Bros.
Apr
16
2013
Ruling
Settlement between debtor, individuals and European counterpart proposed by Securities Investor Protection Act liquidating trustee approved.
Procedural posture
The trustee for the liquidation of the business of debtor under the Securities Investor Protection Act, 15 U.S.C.S. § 78aaa et seq. filed a motion seeking entry of an order pursuant to Fed. R. Bankr. P. 9019 approving the settlement and compromise between debtor, certain individuals, and its European counterpart.
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Court
:
- FRBP
In re Lehman Bros.
Apr
16
2013
Ruling
Settlement agreement providing for distribution of cash and securities to creditors in exchange for mutual releases approved.
Procedural posture
A liquidating trustee for a bankruptcy debtor and creditors entered into a settlement agreement which provided for a distribution of cash and securities to the creditors and a mutual release of claims. The trustee moved for approval of the settlement agreement.
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Court
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