Dow Corning Corp. v. Claimants' Advisory Committee

OPINION

BOGGS, Circuit Judge.

In this bankruptcy case, the bankrupt company challenges the district court’s authorization of payments to lower-priority creditors, when not all higher-priority creditors have yet been paid, as contrary to the requirements of the bankruptcy plan. In 1995, Dow Corning filed for bankruptcy in response to numerous tort claims and established the Settlement Fund to pay known and future claimants between 2004 and 2019. The Settlement and Fund Distribution Agreement (“SFA”) permits early payments to lower-priority creditors subject to a district-court determination that…