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Therefore, the Court hat jurLediction to consider, and i[ appropriate approve, the Allocation Agreement Between Reorganized CFiI and the USWA. 1. Reorganized CPLI hat entered into a Settlement Agreement And Mutual Raleaee (the 'Battlement AgraemenC") with respect [o Adversary Proceeding NO. 94PB 2451 (the •AdVeieary Proceeding •) egelnet The Bquitable Life Assurance Society Of The United Btatea (•Bquitable•1 and the UBWA. Connecticut General Life Inautanca Company (•CGLIC•) 1^ also a party to the 9ettlemenC AgraemenC. 2. The 9ettlemenC Agreement Se subject to Che approval of the United States Bankruptcy Court for the District of Utah (the 'Bankruptcy Court'), which approval presently ie being sought. 3. if the Settlement Agreement ie approved, CGLIC will pay to Reorganized CPiI $745,600.00 in satisfaction of Reorganized CPiI'e claim, on behalf of certain rats rate of CP6I Steel Corporation who had elected to part lclpate Sn [he Retiree Major Medical Insurance Program Offered by CPLI Steel Corporation and insured by equitable until duly 1, 1959 (the •Retireee•1- 4. Reorganized CP4I hat pursued recovery of such monies from equitable/CGLIC through 11[iga[1on in multiple civil proceedings over [he course of several years that began in 1990, and Reorganized CPBI'e successful pursuit of summary judgment in [he Adversary Proceeding served as [he catalyst for Che 9ettlemenC Agreement and the $745,600.00 sum to be paid to Reorganized CP4I for the benefit of the Retirees pursuant [hereto. 5. Reorganized CFaI hat expended considerable resources to pay legal fees end expenses, which it estimates exceeds $250,000.00 over the peat six (6) years, neceaeary to prevail in Che euamiary judgment end obtain a favorable sett lament of all matters on terms favorable to the Retirees. 6. Although the USWA hat no authority [o bind the Retirees, including those Retirees who were or are members of the USWA, the USwA participated in the Adversary Proceeding, Se a party [o Che Settlement Agreement relating Co Che Adverea ry Proceeding and Se a party to the Allocation Agreement concerning the proposed allodation of the contemplated settlement proceeds in the amount of $745,600.00 in order to protect the in to reete of the Retirees, a elgnif scant portion of whom had bath mamba ra of the USWA. 4 7. Although Reorganized CP4I prosecuted [he Adversary Proceeding and the prior litigation primarily Cor the benefit of the Retirees,' both Reorganized CPiI and the USWA recognize that Reorganized CPiI can assert both legal and equitable arguments in support of a claim to recover its attorneys' fees and costa incurred in recovers ng the sum o[ $745,600 ae contemplated by the Settlement Agreement. 8. Pursuant to the proposed Allocation Agreement between Reorganized CP6I and the USWA, a copy of which ie attached hereto and incorporated herein ae exhibit •1 •, $197,797.17, plus any inteceat which may accrue on such amount after CGLIC pays $745,600.00 into an escrow account ae contemplated by the Settlement Agreement, eha 11 be paid [o Reorganized CP6I ae re imbureemen[ Of its legal fees and expeneee incurred in connection with its pursuit of claims on behalf of the Retirees against Equitable and CGLIC and the balance of $547, B02.B3, plus any Snteree[ which niay accrue on such amount after CGLIC pays the $745,600.00 into the escrow account, shall be distributed among the Retirees pu reuant [o a mutually agreeable distribution plan to be determined and approved by the Bankruptcy Cou r[. 9. The proposed allocation to Reorganized CPeI of $197,791.17 of the $745,600.00 in eettlemenC proceeds to be received from CGLIC will not permit Reorganized CPLI [o recover ell of its attorneys' [tee and costa, which Reorganized CPiI estimates exceed $250,000.00, but St will permit Reorganized CP6I to recover a signltican[ portion o[ such fees and costa. 10. The proposed allocation [o the Retirees of $547,802.83 of the $745,600.00 in settlement proceeds will pe rml[ [he Retirees [o recover all principal and a reasonable rate oC SntereeC on such principal for the time equ l[able/CGLIC withheld such rase ryes. In Lunerlcan emoloVe re' Int. o. v Iclna R a o., 556 P.2d 471, 475 (10th Cir. 1977), the Tenth Circult^Cou rt of Appeals approved a Cen factor teat enumerated by [he trial court 'The Adve reary Proceeding end Che prior litigation also involved defending equ i[ebl e'e claim against Reorganized CP4I for approximately $391,000 Sn life insurance premiums [hat equitable ease r[ed CP6I Steel Corporation owed; however, the Cime involved anu expense incurred were relatively 1nalgnlflcanC, 'and none of Che proposed allocation to Reorganized CPbI related to defend Sng Squitabl e's claim.