STIPULATIONS AND SETTLEMENTS

(a)
When a case, adversary proceeding, contested matter, dispute, claim, or controversy is settled, the parties shall promptly notify the Court of the settlement or stipulation and, within the time required by the Court, file an agreed judgment or other appropriate stipulation, together with a proposed form of notice and order. The Court may extend this time upon a showing of good cause. Failure to file the required judgment or stipulation may result in dismissal of the pleading, motion, objection, or application upon which the matter was at issue.
(b)
When approval of a settlement or compromise in an adversary proceeding is required by Fed.R.Bankr.P. 9019(a) or (b), the trustee shall file a motion in the bankruptcy case and, unless otherwise ordered, the Clerk shall issue notice in the bankruptcy case as prescribed by Rule 9019. Once the motion is granted, the parties to the adversary proceeding shall
then dismiss the adversary proceeding, file an agreed judgment, or take whatever action is necessary to effectuate the compromise or settlement.