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IN RE HEISSINGER RESOURCES LTD.

No. 85-3191.

67 B.R. 378 (1986)

In re HEISSINGER RESOURCES LTD. Robert M. MAGILL, Trustee, Plaintiff, v. SPRINGFIELD MARINE BANK; the First National Bank of Springfield; Sledge Drilling Co.; Harris Mud & Chemical, Inc.; M & M Pump & Supply, Inc.; Franz K. Fleischli III, as representative of interest holders in oil wells, Defendants.

United States District Court, C.D. Illinois, Springfield Division.

November 24, 1986.

Attorney(s) appearing for the Case

Eric L. Grenzebach and Donald Craven, Springfield, Ill., and Richard A. Stockenberg, St. Louis, Mo., for plaintiff.

John Squires, Franz K. Fleischli, III, Sorling, Northrup, Hanna, Cullin & Cochran, Stephen A. Tagge, of counsel, Springfield, Ill., for defendants.

OPINION AND ORDER

MILLS, District Judge:

The law favors compromise.

Did the bankruptcy judge abuse his discretion in approving the settlement?

The short answer: No.

Here, we review the bankruptcy court's approval of a settlement proposed by the trustee in bankruptcy of Heissinger Resources, Ltd. (Heissinger), a company which operated oil wells in Clay and Brown Counties in Illinois...

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