CR 23.05 Dismissal or compromise
Baldwin's Kentucky Revised Statutes AnnotatedRules of Civil Procedure
Kentucky Rules of Civil Procedure (CR) Rule 23.05
CR 23.05 Dismissal or compromise
The claims, issues, or defenses of a certified class may be settled, or defenses of a certified class may be settled, voluntarily dismissed, or compromised only with the court's approval. The following procedures apply to a proposed settlement, voluntary dismissal, or compromise:
(a) “Residual Funds” are funds that remain after the payment of all approved class member claims, expenses, litigation costs, attorneys' fees, and other court-approved disbursements to implement the relief granted. Nothing in this rule is intended to limit the parties to a class action from agreeing to, or the trial court from approving, a settlement that does not create residual funds.
(b) Any order entering a judgment or approving a proposed compromise of a class action certified under this rule that establishes a process for identifying and compensating members of the class shall provide for the disbursement of residual funds. In matters where the claims process has been exhausted and residual funds remain, not less than twenty-five percent (25%) of the residual funds shall be disbursed to the Civil Rule 23 Account maintained by the Kentucky IOLTA Fund Board of Trustees pursuant to Supreme Court Rule 3.830(20). Such funds are to be allocated to the Kentucky Civil Legal Aid Organizations based upon the current poverty formula established by the Legal Services Corporation to support activities and programs that promote access to the civil justice system for low-income residents of Kentucky.
Credits
HISTORY: Amended by Order 2013-14, eff. 3-6-14; prior amendments eff. 1-1-14 (Order 2013-14); 1-1-11 (Order 2010-09); adopted eff. 7-1-69
Rules Civ. Proc., Rule 23.05, KY ST RCP Rule 23.05
Current with amendments received through March 1, 2024. Some sections may be more current, see credits for details.
End of Document |