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MATTER OF FOSTER MORTG. CORP.

No. 95-10147.

68 F.3d 914 (1995)

In the Matter of FOSTER MORTGAGE CORPORATION, a Louisiana Corporation, Debtor. CONNECTICUT GENERAL LIFE INSURANCE COMPANY, et al., Appellants, v. UNITED COMPANIES FINANCIAL CORPORATION and Foster Mortgage Corporation, Appellees.

United States Court of Appeals, Fifth Circuit.

November 9, 1995.

Attorney(s) appearing for the Case

Josiah M. Daniel, III, J. Maxwell Tucker, Winstead, Sechrist and Minick, Dallas, TX, Douglas R. Davis, New York City, for appellants.

Gregory Mark Gordon, Dallas, TX, for United Companies Financial Corp., appellee.

Barbara Jean Oyer, Jones, Day, Reavis & Pogue, Dallas, TX, for appellees.

Before REYNALDO G. GARZA, BARKSDALE and EMILIO M. GARZA, Circuit Judges.

REYNALDO G. GARZA, Circuit Judge:

In this opinion, we consider the propriety of a compromise settlement agreement between a debtor company Foster Mortgage (Foster) and its parent corporation United Companies (United) in Chapter 11 bankruptcy. Connecticut General Life Insurance Company, representing unsecured creditors (the Noteholders) holding 95% of Foster's indebtedness, opposed the settlement agreement.

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