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We urge that the decision of the Circuit Court should be affirmed because Petitioners were not injured or prejudiced by the settlement--they are not worse off than if the settlement had been rejected. Aside from that, the remaining issue is whether the bankruptcy court had discretion to approve the instant settlement even though it did not strictly follow the priority rule. We believe that the courts correctly decided not to apply the absolute priority rule under the circumstances of this case. We urge that the Rule need not be followed by a bankruptcy court in approving a settlement. Alternatively, if the Court concludes that further development of the record is warranted, it is respectfully urged that the Court order a remand for consideration of why Petitioners were not included in the settlement and whether there was any means for them to realize a recovery in the bankruptcy.


United States Supreme Court


Washington D.C.


Case 137 S.Ct. 973


Docket Number 15-649

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Brief of Amici Curiae Professors Jagdeep S. Bhandari, Susan Block-Lieb, Jessica Gabel Cino, Linda E. Coco, Robert D’agostino, Irina J. Fox, C. Scott Pryor, Theresa J. Pulley Radwan, Nancy B. Rapoport, Michael Sousa, And Laura M. Spitz

Counsel: Richard Lieb & John Collen



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