Compromise or Settlement; Arbitration

(a) APPROVING A COMPROMISE OR SETTLEMENT. On the trustee’s motion and after notice and a hearing, the court may approve a compromise or settlement. Notice must be given to: • all creditors; • the United States trustee; • the debtor; • all indenture trustees as provided in Rule 2002; and • any other entity the court designates. (b) COMPROMISING OR SETTLING CONTROVERSIES IN CLASSES. After a hearing on such notice as the court may order, the court may: (1) designate a class or classes of controversies; and (2) authorize the trustee to compromise or settle controver- sies within the class or classes without further hearing or no- tice. (c) ARBITRATION OF CONTROVERSIES AFFECTING AN ESTATE. If the parties so stipulate, the court may authorize a controversy affect- ing an estate to be submitted to final and binding arbitration. (As amended Mar. 30, 1987, eff. Aug. 1, 1987; Apr. 30, 1991, eff. Aug. 1, 1991; Apr. 22, 1993, eff. Aug. 1, 1993; Apr. 2, 2024, eff. Dec. 1, 2024.)