Oct
24
2011
In re TeleContinuity Inc.
Citing Fed. R. Bankr. P. 9019, movant, the Chapter 7 trustee, asked the court to approve a proposed settlement of controversies and compromise of claims between the estate and a group of lenders (Group). Objector, a creditor that had made a competing offer to purchase estate assets, asked the court to disapprove the proposed settlement with the Group as not being in the best interests of the estate.
Ruling:
Settlement of claims between estate and group of lenders approved in best interests of estate.
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Commercial case opionion summary, case decided on October 24,2011, LexisNexis #1111-102