Opinion ID: 4777078
Heading Depth: 2
Heading Rank: 7

Heading: The Settlement Order

Text: On June 9, 2016, after mediation and negotiation, counsel for the Trustee informed the Bankruptcy Court that the parties had resolved ICSP’s objection and agreed to a proposed order, which the Bankruptcy Court entered on June 28, 2016 (the “Settlement Order”). The Settlement Order attached and approved the terms of the original Settlement Stipulation “except as set forth” in the order. A277. The key provisions of the Settlement Order provide: 3. Except as provided in paragraph 5, nothing in this Order or the Stipulation shall waive, estop, or otherwise limit the rights of any party claiming an interest in the Tax Refund, including but not limited to, the estate, the Insurance Company of the State of Pennsylvania, BMO Harris Bank N.A., or any other party claiming an interest in the Tax Refund, and the parties reserve any and all rights and arguments they had regarding the ownership of, or their interest in [the] Tax Refund prior to the entry of this Order. . . . 11 5. Upon receipt of the Tax Refund, the Trustee shall hold the funds in escrow and shall make no distribution pending further Order of the Court [except to pay the Trustee’s fees and pay the estates 10% of the Tax Refund, net of the Trustee’s expenses]. A277–78.