U.S. Bank National Ass'n v. Wilmington Trust Co. (In Re Spansion, Inc.)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• finding that a release was not overreaching to the extent it bound unimpaired classes deemed to accept the plan since those creditors were being paid in full and had received adequate consideration of the release
• finding improper releases of third parties by objecting shareholders who were receiving nothing under the plan
• overruling U.S. Trustee’s objection to deemed consent to third party release by non-voting, unimpaired class where no member of the class objected
• providing deference to the debtors’ exercise of sound business judgment in pursuing plan contemplating a particular settlement
• involving release of “any and all claims existing as of the Plan’s Effective Date”
• noting, although there was no evidence of any potential claims, “it is not unreasonable for the Debtors to provide a broad release of its claim in return for creditors’ agreement to the Plan.’’

Source: CourtListener parenthetical corpus (CC0).