Greenblatt v. Szilagyi (In Re Resource Technology Corp.)

MEMORANDUM OPINION AND ORDER

KENNELLY, District Judge.

A bankruptcy judge approved an agreement between Chapter 11 debtor Resource Technology Group and creditors Aquila Energy Capital Corporation and Network Electric Corporation for the allocation of funds received by RTC. Several creditors opposed the agreement in the bankruptcy court and now appeal the bankruptcy court’s approval of the agreement. For the reasons stated below, the Court affirms the bankruptcy court’s decision.

Standard of Review

This Court reviews the bankruptcy court’s approval of a settlement agreement for abuse of…