IN RE DREIER LLP

Nos. 08-15051 (SMB), 09-10371(SMB).

429 B.R. 112 (2010)

In re DREIER LLP, Debtor. In re Marc S. Dreier, Debtor.

United States Bankruptcy Court, S.D. New York.

April 28, 2010.


Attorney(s) appearing for the Case

Diamond McCarthy LLP, Howard D. Ressler, Esq., Stephen T. Loden, Esq., Amos Elberg, Esq., Of Counsel, New York, NY, Attorneys for Sheila M. Gowan, Chapter 11 Trustee of the Estate of Dreier LLP.

Klestadt & Winters LLP, Tracy L. Klestadt, Esq., Sean C. Southard, Esq., Brendan M. Scott, Esq., Joseph C. Corneau, Esq., Of Counsel, New York, NY, Attorneys for the Official Committee of Unsecured Creditors.

United States of America, Matthew L. Schwartz, Assistant United States Attorney, Of Counsel, New York, NY, United States Attorney for the Southern District of New York.

White & Case LLP, J. Christopher Shore, Esq., Julia M. Winters, Esq., Of Counsel, New York, NY, Attorneys for GSO Capital Partners, LP.

Lamonica Herbst & Maniscalco LLP, Gary F. Herbst, Esq., Holly R. Holecek, Esq., Of Counsel, Wantagh, NY, Attorneys for Salvatore LaMonica, Chapter 7 Trustee of the Estate of Marc S. Dreier.

Craig Carpenito, Esq., Alexander S. Lorenzo, Esq., Alston & Bird LLP, New York, NY, John E. Stephenson, Jr., Esq., Of Counsel, Atlanta, GA, Attorneys for Paul Gardi and Alex Interactive Media, LLC.

Sullivan & Cromwell LLP, Bruce E. Clark, Esq., William L. Farris, Esq., Maureen A. Fitzgerald, Esq., Of Counsel, New York, NY, Attorneys for Eton Park CLO Management 1, Eton Park CLO Management 2, Eton Park Fund, L.P., and Eton Park Master Fund, Ltd.

Cohen & Gresser LLP, Mark S. Cohen, Esq., Brett D. Jaffe, Esq., Daniel H. Tabak, Esq., Donald M. Badaczewski, Esq., Of Counsel, New York, NY, Attorneys for Fortress Investment Group LLC, FCOF UL Investments, Fortress Credit Opportunities I LP, Fortress Credit Corp., Concordia MAC29 Ltd., Concordia Partners L.P., Enterprise Fund Limited, and Concordia Institutional Multi-Strategy Fund, Ltd.

Friedman Kaplan Seiler & Adelman LLP, Eric Corngold, Esq., Eamonn O'Hagan, Esq., Of Counsel, New York, NY, Attorneys for Perella Weinberg Partners Xerion Master Fund Ltd.


MEMORANDUM DECISION DENYING MOTIONS TO APPROVE SETTLEMENTS AND LIFT THE AUTOMATIC STAY

STUART M. BERNSTEIN, Bankruptcy Judge:

Sheila M. Gowan, the Chapter 11 Trustee of the Estate of Dreier LLP ("Gowan"), and Salvatore LaMonica, the Chapter 7 Trustee of the Estate of Marc S. Dreier ("LaMonica," and with Gowan, the "Trustees"), move for the approval of two related settlement agreements. The first, among the Trustees and the GSO Parties ("GSO"), resolves the...

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