Opinion ID: 465409
Heading Depth: 3
Heading Rank: 4

Heading: Consideration of Creditors' Objections.

Text: 42 Appellants contend that the bankruptcy court's failure to respond to each objection which they raised in their objection to application to compromise controversy, constituted an abuse of discretion. However, appellants cite no cases directly supporting this proposition. 6 43 Creditors' objections to a compromise must be afforded deference. In re Transcontinental, 764 F.2d at 1299; accord, In re Hallet, 33 B.R. at 566; In re The General Store of Beverly Hills, 11 B.R. at 541. In addition, the bankruptcy court is obligated to preserve the rights of the creditors. Matter of W.T. Grant Co., 4 B.R. at 69. However, where, as here, the evidence on the issue of the compromise was thorough and comprehensive, the court was familiar with the entire record and touched all material bases of the creditors' objections, and held directly, expressly or by necessary implication, on every substantial point of contention, the court's approval of the compromise does not constitute an abuse of discretion. Matter of Jackson Brewing Co., 624 F.2d at 612. 44