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.