Case Conclusion Date: 01.24.2008
Practice Area: Chapter 11 bankruptcy
Outcome: Won Appeal
Description: This was an appeal of a compromise embodied in a Chapter 11 Plan. The issues on appeal were whether Energen was entitled to legal fees and whether the Trial Judge correctly interpreted the comromise to include a "satisfaction to the reasonable person" standard. Energen's appeal was denied in the District Court. Energen appealed to this Court. The Opinion upheld the decisions of the lower courts and stated that 1) Energen was not entitled to legal fees because there was no breach of settlement, 2) The trial court correctly ruled for Golden by requiring that an objective "reasonableness" standard be implied in any contract that included a clause that something be done "to the satisfaction" of one party..