If the court finds:

1. (1) the contest or controversy is in good faith; and

2. (2) the effect of the agreement on the interests of all the parties is just and reasonable;

   the court shall enter an order approving the agreement submitted under section 7 of this chapter and directing the trustee and the parties to the agreement to carry out the terms of the agreement.

As added by P.L.200-1991, SEC.6.