E! News can confirm a settlement between the Real Housewives of New Jersey star and her creditors has been approved by a U.S. Bankruptcy Court Judge in New Jersey. The terms of the settlement state that Teresa will keep 55 percent of the net proceeds from the legal malpractice suit with the remaining 45 percent going to any remaining creditors. "We are very gratified that a settlement was reached between Ms. Giudice and trustee John Sywilok concerning the distribution of the proceeds of the Kridel lawsuit and that Judge Stacey Meisel approved the settlement today," Teresa's attorney Carlos Cuevas said in a statement to E! News. "Today was a big step. We thank the trustee for his cooperation and also Judge Meisel." The Giudice family attorney andspokesperson echoed the positive sentiments in a separate statement to E! News.
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