Case No. 01-16034 (AJG) Jointly Administered.United States Bankruptcy Court, S.D. New York.
January 19, 2006
ORDER, PURSUANT TO 11 U.S.C. §§ 105(a), 502(c), AND 1142, ESTIMATING CLAIM NOS. 15229-35 FOR PURPOSES OF ESTABLISHING RESERVES
ARTHUR GONZALEZ, Bankruptcy Judge
Upon consideration of (a) the Reorganized Debtors’ Fourth Omnibus Motion for Order, pursuant to 11 U.S.C. §§ 105(a), 502(c) and 1142, Estimating Certain Contingent or Unliquidated Claims for Purposes of Establishing Reserves, dated September 23, 2005 (the “Motion”), (b) the Objection to the Motion of Claimant Oscar’s Photo Lab (“OPL”), on Behalf of Itself and All Similarly Situated California Business and Residential Ratepayers (the “OPL Objection”), (c) the Reorganized Debtors’ Reply to the Objection (the “Reply”), (d) OPL’s Response to the Reply, on Behalf of Itself and All Similarly Situated California Business and Residential Ratepayers, and(e) the argument of counsel at the hearing held to consider the Motion and the OPL Objection on December 8, 2005 (the “Hearing”); and the Reorganized Debtors and OPL having agreed that the Motion may be
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decided on the parties’ written submissions; and it appearing that, while the Disallowance Order (as defined in the Reply) has been appealed by OPL, no stay pending such appeal has been obtained; and it appearing that the relief requested in the Motion is in the best interests of the Reorganized Debtors and their creditors; and the Court having determined that the legal and factual bases set forth in the Motion and at the Hearing establish just cause for the relief granted herein; and for the reasons stated in the Court’s opinion attached hereto as ExhibitA; and after due deliberation and sufficient cause appearing therefore, it is
ORDERED that, the OPL Objection is hereby overruled, and the Motion is hereby granted with respect to Claim Nos. 15229-35; and it is further
ORDERED that, pursuant to sections 105(a), 502(c), and 1142 of the Bankruptcy Code, each of Claim Nos. 15229-35 filed by Oscar’s Photo Lab (the “Affected Claims”) shall be estimated, for the purposes of establishing unsecured Reserve Claim Amounts (as such term is defined in the Motion), at $0; and it is further
ORDERED that, pursuant to Sections 21.2 and 21.3(a) of the Plan, the Reserve Claim Amounts shall constitute and represent the maximum amount in which each
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Affected Claim may ultimately become an allowed Claim, subject solely to OPL’s right to seek reconsideration of any of the Affected Claims pursuant to section 502(j) of the Bankruptcy Code; and it is further
ORDERED that, the claims agent appointed in these cases is authorized and directed to make appropriate entries in the claims register to reflect the terms of this Order.
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