What is the test for fair, reasonable and adequate settlement?
MultiRegion, United States of America
The following excerpt is from Maywalt v. Parker & Parsley Petroleum Co., 67 F.3d 1072 (2nd Cir. 1995):
In determining whether a proposed settlement is fair, reasonable, and adequate, "[t]he primary concern is with the substantive terms of the settlement: 'Basic to this ... is the need to compare the terms of the compromise with the likely rewards of litigation.' " Weinberger v. Kendrick, 698 F.2d at
Page 1080
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