Settlement order effects preserve third-party rights, restrict evidentiary use, and prevent co-noticees from claiming exoneration.

Settlement orders do not serve as evidence in separate proceedings concerning defaults outside their scope and do not affect third-party rights. In proceedings against co-noticees, observations regarding a settling applicant may be made only where necessary to establish another person's act, and remain subject to the settlement order unless revoked. Observations concerning another person's alleged default are not independently admissible against that person. Other co-noticees cannot rely on one applicant's settlement order to seek exoneration or claim that proceedings against them are infructuous.

---

---

---