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represented to the Court that, in their business judgment, the <br />settlement reached by the parties was reasonable and should be <br />approved. However, the parties advised the Court that they had <br />arrived at the negotiated amounts for different reasons and that <br />the settlement could be viewed as reasonable from a number of <br />different perspectives that were explained by the parties on the <br />record at the October 6 hearing. Furthermore, at the October 6 <br />hearing, the USWA, in support of the settlement and in response <br />to the objection of the Reorganized Debtors, submitted the <br />verified statement of Reilin and Bloom of its estimate that in <br />all 1,760 hours were spent on the CF6I cases by its <br />professionals. In connection with the Application, the USWA <br />previously had submitted time records for 551.20 hours spent by <br />Cohen, Weiss & Simon and 160.5 hours spent by Arnold & Porter on <br />the CF&I cases. <br />At the October 6 hearing, the parties requested that the <br />Court approve the settlement, as set forth above. The Court <br />determined that the matter would be treated as a settlement of a <br />contested matter and ordered that notice of the proposed <br />settlement of a hearing thereon, and of an objection deadline, <br />with the hearing to be vacated if no timely objections are filed, <br />be sent to parties in interest whose names appear on the current <br />Master Service List, as modified by requests of parties in <br />interest that their names be removed from the Master Service <br />List. <br />4 <br />