9th Cir. B.A.P.;
15-1238

The Bankruptcy Appellate Panel affirmed a bankruptcy court order. The court held that the bankruptcy court did not abuse its discretion in approving the liquidating trustee's proposed settlement of claims.

The WFI Liquidating Trust was established upon confirmation of the chapter 11 plan of the jointly administered debtors Western Funding Incorporated (WFI), Western Funding Inc. of Nevada, and Global Track GPS, LLC. The confirmed plan empowered liquidating trustee Brian Shapiro to litigate and settle claims belonging to the chapter 11 bankruptcy estates, provided that bankruptcy court approval be sought and obtained to settle any claims over $50,000. Shapiro commenced litigation against American Express Travel Related Services Company, Inc. and American Express Centurion Bank (collectively, Amex) to avoid and recover over $2 million in allegedly fraudulent prepetition transfers made by WFI.