Case No. 02-B02474 Jointly Administered.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
June 17, 2004
AGREED ORDER RESOLVING LEASE REJECTION CLAIM AND ADMINISTRATIVE CLAIM FOR KMART STORE NUMBER 7339
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the lease rejection claim (the “Lease Rejection Claim”) and the administrative claim (the “Administrative Claim”) filed by Park Tower, LTD (the “Claimant”); under the Leases of the property described as Kmart Store Number 7339, Orlando, FL; and Kmart Corporation (“Kmart”) having filed objections to the Lease Rejection Claim and the Administrative Claim; and the Court being advised that Claimant and Kmart have resolved the Lease Rejection Claim and Administrative Claim; and after due deliberation and sufficient cause appearing therefore, it is hereby
ORDERED that Park Tower, LTD shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $485,625.00, which shall be satisfied in accordance with the terms of Kmart’s confirmed plan of reorganization; and it is further
ORDERED that the distributions to be made on account of the Allowed Class 5 Rejection Claim pursuant to the terms of Kmart’s plan of reorganization shall be made to:
a. Company Legal Name the stock will be registered in: Park Tower, LTD;
b. Company Tax ID #: 63-6064293;
c. Company Contact: Charles Stephens; and
d. Company Address: 4363 1st Ave. N., Birmingham, AL 35222;
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and it is further
ORDERED that Park Tower, LTD shall have an allowed Administrative Claim in the sum of $22,196.64, which shall be paid by Kmart within 10 days of the date of entry of this Order. Such payment shall be by check payable to Park Tower, LTD, and mailed to c/o Charles Stephens, Park Tower, LTD, 4363 1st
Ave. N., Birmingham, AL 35222; and it is further
ORDERED that upon entry of this Order, the Lease Rejection Claim and Administrative Claim of Park Tower, LTD arising out of the lease of Store 7339, Orlando, FL shall be deemed satisfied in their entirety; and it is further
ORDERED that Park Tower, LTD, and its successors, assigns or designees and all other persons are forever barred from asserting, collecting, or seeking to collect any amounts with respect to Kmart Store Number 7339.
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