Objection to Section 12.12(a) of the Plan. 2. Section 12.12(b) — Consensual Release The releases set forth in 12.12(b) relate to the present or former directors, officers, or employees of the Debtors in connection with or related to Debtors, the conduct of Debtors’ business, the Chapter 11 Case, or the Plan. The 12.12(b) releases were disclosed in bold and conspicuous lettering on the ballot and provide a voluntary release of claims by Claimholders who voted to accept the Plan. The 12.12(b) releases do not apply to Claimholders who did not vote or who voted against the Plan notwithstanding their membership in a class, which voted in favor of the Plan. Consensual releases have been routinely upheld by courts. See In re Metromedia Fiber Network, Inc., 416 F.3d 136, 142 (2d Cir.2005) (<HOLDING>) (citing In re Specialty Equip. Cos., 3 F.3d
holding that the nature and scope of the petitioners consent and any conditions or limitations should be taken into account in examining a consent defense under article 13 of the convention holding that nondebtor releases should ordinarily only be granted under unique circumstances but that mondebt or releases may also be tolerated if the affected creditors consent holding that the implied consent law allows law enforcement officers to obtain blood in circumstances in which a warrant or actual consent may otherwise be required holding the court should only apply the doctrine narrowly and only under exceptional circumstances holding that a court may dismiss a claim under 12b6 only if it appears to a certainty that no relief can be granted under any set of facts provable in support of its allegations or if the allegations accepted as true do not present a claim upon which relief legally can be obtained