(a) Compromise. On motion by the trustee and after notice and a hearing, the court may approve a compromise or settlement. Notice shall be given to creditors, the United States trustee, the debtor, and indenture trustees as provided in Rule 2002 and to any other entity as the court may direct.
(b) Authority To Compromise or Settle Controversies Within Classes. After a hearing on such notice as the court may direct, the court may fix a class or classes of controversies and authorize the trustee to compromise or settle controversies within such class or classes without further hearing or notice.
(c) Arbitration. On stipulation of the parties to any controversy affecting the estate the court may authorize the matter to be submitted to final and binding arbitration.
(As amended Mar. 30, 1987, eff. Aug. 1, 1987; Apr. 30, 1991, eff. Aug. 1, 1991; Apr. 22, 1993, eff. Aug. 1, 1993.)
added in current removed in current
Compared to current version (2025).
(a) Compromise. On motion byApproving a Compromise or Settlement. On the trustee’s motion and after notice and a hearing, the court may approve a compromise or settlement. Notice shallmust be given to: • all creditors,; • the United States trustee,; • the debtor, and; • all indenture trustees as provided in Rule 2002; and to• any other entity as the court may direct.
(b) Authority Todesignates.
(b) Compromiseing or Settleing Controversies Within Classes. After a hearing on such notice as the court may directorder, the court may fix:
(1) designate a class or classes of controversies; and
(2) authorize the trustee to compromise or settle controversies within suchthe class or classes without further hearing or notice.
(c) Arbitration. On stipulation of the parties to any c of Controversy aies Affecting the estan Estate. If the parties so stipulate, the court may authorize the mata controversy affecting an estater to be submitted to final and binding arbitration.
(As amended Mar. 30, 1987, eff. Aug. 1, 1987; Apr. 30, 1991, eff. Aug. 1, 1991; Apr. 22, 1993, eff. Aug. 1, 1993; Apr. 2, 2024, eff. Dec. 1, 2024.)