- FRBP
In re Hefel
Sep
19
2011
Ruling
Settlement approved as warranted due to potential substantial costs, inconvenience and delay of litigation.
Procedural posture
Movant, the chapter 7 trustee, sought approval of a compromise with debtors pursuant to Fed. R. Bankr. P. 9019, whereby the trustee agreed to abandon pursuing any interest in various closely-held corporations. An unsecured creditor that had filed a claim for in excess of $750,000 objected to the proposed settlement and offered to make a cash purchase of debtors' assets.
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Court
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