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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.