Settlements and Stipulations

A. Notification of Court.

When a matter scheduled for hearing is settled, the moving party must immediately inform the courtroom department by e-mail to [email protected], telephone, or other expeditious means.

B. Effect of Settlements.

Except as provided by the Bankruptcy Code or the Federal Rules of Bankruptcy Procedure, a settlement filed with the court is binding on the parties thereto in accordance with its terms. But a settlement that provides for relief from the automatic stay, prohibits or conditions the use, sale, or lease of property, or provides for adequate protection, use of cash collateral, or obtaining credit is not enforceable unless it is approved by the court after notice and hearing under Fed. R. Bankr. P. 4001(d). The court may approve a settlement without further notice and hearing if: (1) an underlying motion to be settled was served on all parties in interest entitled to notice under Fed. R. Bankr. P. 4001(a) and (d); or (2) the parties represent in the settlement document all parties entitled to notice under Fed. R. Bankr. P. 4001(a) and (d) signed the settlement.

C. Settlements Requiring Notice.

The notice requirement of Fed. R. Bankr. P. 4001(d) and 9019 may be satisfied under Local Rule 9013-1 as complemented by Fed. R. Bankr. P. 4001(d) or 9019.