In re Resource Tech. Corp.
Citation: 35 ELR 20249
No. No. 05-1779, (7th Cir., 12/09/2005)
The court upholds a bankruptcy court's settlement approval over the disposition of certain rights to harvested methane gas. Under the settlement, the bankrupt party--a company that collects methane gas from landfills--was released from its obligation to finish the gas collection system and was to pay a landfill and the prospective purchaser of the gas $75,000. In exchange, the company had to give up its right to the collected methane. Although the company was offered a better settlement by its principle creditors, the proposed alternate was legally impossible.