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IN RE PETTERS COMPANY, INC.

BAP No. 11-6013.

455 B.R. 166 (2011)

In re PETTERS COMPANY, INC.; Fetters Group Worldwide, LLC; PC Funding, LLC; Thousand Lakes, LLC; SPF Funding, LLC; PL Ltd, Inc.; Edge One LLC; MGC Finance, Inc.; PAC Funding, LLC; Palm Beach Finance Holdings, Inc., Debtors. Interlachen Harriet Investments Ltd., Objector-Appellant, v. Douglas Arthur Kelley, as Chapter 11 Trustee for Fetters Company, Inc., Fetters Group Worldwide, LLC, and FAC Funding, LLC and as Court Appointed Receiver for Thomas Fetters, Inc. and Fetters Aircraft Leasing, LLC; John R. Stoebner, as Chapter 7 trustee of the Jointly Administered Bankruptcy Cases Captioned In re: Polaroid Corp., et al., Case No. 08-46617; Fetters Aviation, LLC; Elite Landings, LLC; Asset Based Resource Group, LLC, Movants-Appellees.

United States Bankruptcy Appellate Panel for the Eighth Circuit.

Decided: August 19, 2011.

Attorney(s) appearing for the Case

Steven John Heim , argued, J. David Jackson , Mark J. Kalla , Pamela Foohey , on the brief, Minneapolis, MN, for appellant.

James A. Lodoen , argued, Daryle L. Uphoff , Bryan R. Freeman , Minneapolis, MN, for appellee Douglas Arthur Kelley.

Michael A. Rosow , argued, Thomas Henry Boyd , Daniel Beck , on the brief, Minneapolis, MN, for appellee Asset Based Resource Group.

Before SCHERMER, VENTERS, and NAIL, Bankruptcy Judges.

VENTERS, Bankruptcy Judge.

Interlachen Harriet Investments Ltd., appeals the bankruptcy court's approval of a multi-million dollar, global settlement ("Settlement") in one of the largest Ponzi scheme bankruptcies in American history.1

The Settlement has been substantially consummated, and the appeal has been rendered largely moot. Nevertheless, to the extent relief could be fashioned at this juncture, no such relief is warranted...

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