Law

Law v. Siegel

Good Law
308 F. App'x 152
United States Court of Appeals for the Ninth CircuitJanuary 14, 2009No. 07-56239California281 words

Opinion

Lead Opinion

MEMORANDUM **

Stephen Law, Chapter 7 debtor, and Lili Lin, a citizen of China and purported lien holder, appeal from the Bankruptcy Appellate Panel’s (“BAP”) judgment affirming the bankruptcy court’s orders approving a compromise agreement and authorizing distribution of real estate sale proceeds. We have jurisdiction under 28 U.S.C. § 158 (d). We review de novo the BAP’s decision. See Arrow Elecs., Inc. v. Howard Justus (In re Kaypro), 218 F.3d 1070, 1073 (9th Cir.2000). We affirm.

The BAP properly upheld the bankruptcy court’s order approving the compromise agreement between the trustee and the judgment creditors, because the agreement was in the best interest of the creditors, interest holders, and the estate. See Fed. R. Bankr.P. 9019(a) (authorizing bankruptcy court to approve a compromise *153 or settlement); Port O’Call Inv. Co. v. Blair (In re Blair), 538 F.2d 849, 852 (9th Cir.1976) (per curiam) (“Liquidation is to be accomplished as rapidly as possible consistent with obtaining the best possible realization upon the available assets and without undue waste by needless or fruitless litigation.”).

The BAP properly affirmed the order authorizing the trustee to distribute…

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