Opinion ID: 2954553
Heading Depth: 2
Heading Rank: 6

Heading: The Consolidated Hearings.

Text: The bankruptcy court held consolidated hearings on October 27 and 28, 2011 (the “Consolidated Hearings”), regarding the Settlement Agreement, the Motion to Value, and the Claim Objection. During the Consolidated Hearings, the Committee produced numerous exhibits, evidence of stipulations, and witness testimony in support of its position as to each of the consolidated matters. Counsel for the Committee cross-examined witnesses for the Trustee 9 Case: 14-50046 Document: 00513196170 Page: 10 Date Filed: 09/16/2015 No. 14-50046 and for Chase. On November 1, 2011, over the Committee’s objections, the bankruptcy court issued an oral ruling approving the Settlement Agreement. In its oral ruling, the bankruptcy court considered the Settlement Agreement, the Motion to Value, and the Claim Objection “intertwined [such that] the resolution of one resolve[d] the others.” Consistent with that view, in addition to approving the Settlement Agreement the bankruptcy court also denied the Motion to Value and the Claim Objection. The bankruptcy court memorialized its oral ruling in three separate orders—one pertaining to the Settlement Agreement, one to the Motion to Value, and one to the Claim Objection. The Committee appealed the bankruptcy court’s approval of the Settlement Agreement, its denial of the Motion to Value, and its denial of the Claim Objection.