IN RE KAISER STEEL CORP.

Nos. 89-K-570, 89-K-571, Bankruptcy No. 87-B-1552-E, Adv. Nos. 87-E-135, 87-E-437.

105 B.R. 971 (1989)

In re KAISER STEEL CORP., et al., Debtors. KAISER STEEL CORP., et al., Plaintiffs/Appellees, v. Joseph A. FRATES, et al., Defendants/Appellants. KAISER STEEL CORP., et al., Plaintiffs/Appellees, v. Monty RIAL, et al., Defendants/Appellants.

United States District Court, D. Colorado.

October 20, 1989.


Attorney(s) appearing for the Case

Theresa J. Collier, Holland & Hart, Denver, Colo., for Clifford V. Brokaw, III.

Daniel N. Larson, Litigation Manager, Kaiser Steel Corp., Rancho Cucamonga, Cal., James P. McCarthy, Lindquist & Vennum, Minneapolis, Minn., H. Thomas Coghill, Coghill & Goodspeed, P.C., Denver, Colo., for Kaiser Steel Corp.

Leon C. Marcus, Booth, Marcus & Pierce, New York City, Michael E. Katch, Katch, Anderson & Wasserman, Denver, Colo., for Unsecured Creditors' Committee.

Ronald G. Rossi, Rossi & Judd, Denver, Colo., Robert E. Darby, Fulbright Jaworski & Reavis McGrath, Los Angeles, Cal., for Howard P. Allen, William R. Gould.

Paul F. Hultin, Parcel, Mauro, Hultin & Spaanstra, Denver, Colo., Thomas E. English, English, Jones & Faulkner, Tulsa, Okl., for Stan P. Doyle, Joseph A. Frates, Charles S. Holmes, Robert E. Merrick, Equivest Associates, J. Anthony Frates, Stephen I. Frates, P. Peter Prudden III, Estate of Howard Samuels.

J. Michael Morgan, Lohf, Shaiman & Ross, Denver, Colo., for Sierra Gateway Development, Inc., State Federal Saving and Loan Ass'n.

Richard P. Slivka, Vinton, Slivka & Panaci, Denver, Colo., C. Joseph Girior, Giroir Law Firm, Little Rock, Ark., for Monty H. Rial.

Julia T. Waggener, Denver, Colo., for Charles S. McNeil.

Robert M. Duitch, Duitch & Johnson, Colorado Springs, Colo., I. Thomas Bieging, Morrato, Bieging, Burrus & Colanto, P.C., Englewood, Colo., for Miles B. Yeagley.

Alan L. Bugg, Colorado Springs, Colo., for Calder & Co., Chimney Rock Coal Co., Colorado Coal Mining Co., Colorado Coal Resources Co., Aztec, Ltd. a/k/a Colorado Pacific Aztec, Energy Capital Ltd. a/k/a Colorado Pacific Energy, Perma Mining Corp., Perma Pacific, Inc., Perma Pacific Properties, Perma Resources Corp.

Joseph N. Mole, Lemle, Kelleher, Kohlmeyer, Dennery, Hunley, Moss & Frilot, New Orleans, La., Jeffrey L. Beattie, Denver, Colo., for Dr. Eustace H. Winn, Jr.

William H. Haring, Bostrom, Haring & Hitt, P.C., Denver, Colo., William D. Treeby, Stone, Pigman, Walther, Wittmann and Hutchinson, New Orleans, La., for Lloyd G. Hansen.

Darrell G. Waas, Otten, Johnson, Robinson, Ness & Ragonetti, P.C., Denver, Colo., Douglas M. Schwab, Joseph A. Gross, Heller, Ehrman, White & McAuliffe, San Francisco, Cal., for Richard N. Gary, Stephen A. Girard.

Douglas M. Tisdale, Brownstein Hyatt Farber & Madden, Denver, Colo., Frank S. Moseley, Robert M. Buschmann, Davis, Polk & Wardwell, New York City, Jerome G. Snider, Davis, Polk & Wardwell, Washington, D.C., for Donaldson, Lufkin & Jenrette Securities Corp.

Todd E. Gordiner, Paul, Hastings, Janofsky & Walker, Los Angeles, Cal., William G. Imig, Ireland, Stapleton, Pryor & Pascoe, P.C., Denver, Colo., for Dean Witter Reynolds, Inc.

Morton G. Rosen, Steven L. Hoch, Haight, Dickson, Brown & Bonesteel, Santa Monica, Cal., John D. Phillips, Hall & Evans, Denver, Colo., for Charles H. Black.


MEMORANDUM OPINION AND ORDER

KANE, Senior District Judge.

On March 9, 1989, the bankruptcy court entered a series of orders approving four separate settlement agreements between Kaiser and certain defendants in the Frates, Rial and Jacobs litigation. These defendants are (1) Dean Witter Reynolds, Inc., (2) Donaldson, Lufkin & Jenrette (DLJ), (3) certain former officers and directors of Kaiser,1 and (4) Clifford...

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