May the Receiver enter into settlements in connection with his efforts to recover receivership entity assets. Are these settlements subject to review?
Yes. The Receiver may enter into settlements and compromises that he believes are fair and in the interest of the receivership estate. These settlements and compromises are subject to Court approval. The Receiver will identify for the Court why he believes the proposed settlement is prudent, and in the best interests of the receivership. At that time, affected parties may object if they so choose, and the Court will enter a ruling approving or denying the proposed settlement.