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In re Local Serv. Corp.

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.
Trustee's settlement of fraud claims that would be expensive and difficult to prove approved in best interests of estates' creditors.
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Commercial case opionion summary, case decided on December 19,2011, LexisNexis #0112-102