LSI 2010 NRD Santa Fe final conference binder 072110.pdf

Linda R. Larson of Marten Law PLLC
J. Scott Janoe of Baker Botts LLP
Speaker 21: 5
Speaker 22: 5
Estimation Hearing Procedures
Tight timeframes
Pre-filed testimony
Expert driven
Huge range in state of NRD assessment among sites
Third-party involvement
Parent
PRPs
Governments
Committees
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Settlements
Negotiation
Court Approval
Process - On motion and after notice and a hearing, the court
may approve a compromise or settlement. Fed. R. Bankr. P. 9019
Fair and Equitable Standard - Approval must receive the
informed, independent judgment of the bankruptcy court. Factors
to be considered include:
the probability of success in the litigation;
the complexity and duration of litigation and any attendant expense,
inconvenience, or delay (i.e., collecting the judgment); and
all other factors bearing on the wisdom of the compromise, which has
been read to include interests of creditors and whether the settlement
was the product of arms-length bargaining and not fraud or collusion.
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Law Seminars International | Natural Resource Damages | 07/16/10 in Santa Fe, NM