- FRBP
In re Jennings
Mar
24
2011
Ruling
Reconsideration of approval of settlement denied.
Procedural posture
Creditor filed a motion for reconsideration of an order approving a settlement agreement resolving an adversary proceeding brought by plaintiff chapter 7 trustee against defendant, counsel for the debtor. The trustee joined in the motion.
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- FRBP
Bulf Petroleum Corp. v. United Cent. Bank (In re Bulk Petroleum Corp.)
Mar
18
2011
Ruling
Settlement with failed bank approved where bank failed to send agreement to FDIC for approval as called for by contingency.
Procedural posture
Chapter 11 debtor filed a motion to enforce a settlement agreement.
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:
- FRBP
In re Fox
Mar
15
2011
Ruling
Settlement of dispute involving debtor's land approved.
Procedural posture
A trustee who was appointed to administer a debtor's chapter 7 bankruptcy case asked the court to reopen the debtor's case and for permission to hire special counsel to resolve issues involving land the debtor owned. The court granted the trustee's motion, and the trustee subsequently asked the court to approve a compromise she negotiated, pursuant to Fed. R. Bankr. P. 9019. The debtor opposed the trustee's motion to compromise.
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Court
:
- FRBP
In re Millennium Multiple Emplr. Welfare Benefit Plan
Feb
18
2011
Ruling
Approval of settlement proposing to distribute significant assets to unsecured creditors denied as an impermissible sub rosa plan.
Procedural posture
The debtor, which was an employer welfare benefit plan, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. The debtor was now, and had been since its filing of the Chapter 11 petition, in possession of its assets and it had been operating as debtor-in- possession. The debtor and the official committee of unsecured creditors filed a joint motion for approval of settlement.
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:
- FRBP
In re Xenerga Inc.
Jan
07
2011
Ruling
Debtor general contractor's settlement of loan debt owed by customer approved over objections of subcontractors.
Procedural posture
Chapter 7 trustee moved for approval of a compromise of controversy (settlement) with respect to turnover of a prepetition loan. Creditor subcontractors objected to the settlement.
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:
- FRBP
In re Coonrod
Dec
17
2010
Ruling
Settlement of employment discrimination suit not approved due to trustee's failure to show it was based on sound business judgment.
Procedural posture
Debtors filed a petition under Chapter 7 of the Bankruptcy Code, and a trustee was appointed to administer their bankruptcy estate. The trustee's counsel settled an employment discrimination action the female debtor filed against the Idaho Department of Corrections (DOC) before she declared bankruptcy, and the trustee asked the court to approve the settlement, pursuant to Fed. R. Bankr. P. 9019. The debtors filed objections.
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Court
:
- FRBP
Whyte v. Kiviston (In re Kiviston)
Nov
19
2010
Ruling
Settlement of charges related to commodities trading approved over objections from party lacking cognizable due process rights affected by contribution bar.
Procedural posture
Before the court was the joint motion of a litigation trust trustee for an order approving settlement, Fed. R. Bankr. P. 9019. An objector filed an objection. The trustee alleged 30 counts against various defendants primarily related to their involvement with, in part, debtors' commodities trading and certain interested transactions. The complaint asserted fraudulent transfer, breach of fiduciary duty, breach of contract, and unjust enrichment.
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:
- FRBP
In re Capmark Fin. Group Inc.
Nov
01
2010
Ruling
Settlement with secured lenders approved over objections of official committee of unsecured creditors.
Procedural posture
Debtors, a financial group and its subsidiaries and affiliates, filed petitions under Chapter 11 of the Bankruptcy Code, and operated their businesses as debtors in possession. The debtors negotiated an agreement to settle secured claims that were filed by several lenders, and they asked the court to approve that agreement under Fed. R. Bankr. P. 9019. An Official Committee of Unsecured Creditors opposed the debtors' motion.
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:
- FRBP
In re Buffington
Apr
30
2010
Ruling
Settlement of debtor's legal malpractice claim approved.
Procedural posture
A chapter 7 debtor filed a legal malpractice suit in state court against his former attorney based upon his prepetition representation of the debtor. The chapter 7 trustee filed a motion to compromise the debtor's claims against the attorney pursuant to Fed. R. Bankr. P. 9019. The debtor opposed the motion.
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:
- FRBP
In re Rosenberg
Feb
05
2010
Ruling
Motion for approval of stipulation to extend time to close transaction denied due to impermissible provisions affecting chapter 11 trustee.
Procedural posture
A chapter 11 debtor filed a motion to enter into a proposed stipulation with a creditor pursuant to Fed. R. Bankr. P. 9019 that would extend the deadline for the closing of a transaction in which the debt owed to the creditor would be purchased at a discount. A group of creditors (the other creditors) opposed the motion. The creditor also objected.
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Court
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