Beacon Investments LLC v. Mainepcs, LLC

ORDER ON BANKRUPTCY APPEAL

JOHN A. WOODCOCK, JR., Chief Judge.

Secured creditors of a bankrupt debtor business challenge on appeal the Bankruptcy Court’s approval of the settlement of pending litigation between the bankrupt business and a competitor. This Court concludes that the Bankruptcy Court’s approval did not abuse its discretion, that the appellants waived the right to assert that the Bankruptcy Court should have applied the “entire fairness” standard but that even if it had done so the result would have been the same, and that two of the three members of the business had the authority…