Judge Lets Brooke Ch. 7 Trustee Settle $4M In Claims

Law360, New York (January 12, 2011, 6:41 PM EST) -- A bankruptcy judge Wednesday granted a request by Brooke Corp.'s trustee to settle a $4 million chunk of claims in the insurance agency’s Chapter 7 proceedings independently.

Judge Dale Somers of the U.S. Bankruptcy Court for the District of Kansas approved trustee Albert Riederer's bid for “blanket authority” to settle 36 adversary proceedings totaling $4.3 million without court approval.

Under the order, Riederer will be allowed to secure settlements for claims greater than $100,000 without receiving leave of the court or notifying parties served with the...
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