Case No. 01-41593-293.United States Bankruptcy Court, E.D. Missouri, Eastern Division.
August 24, 2004
Mark L. Prager, Michael J. Small, Derek L. Wright, FOLEY
LARDNER LLP, Chicago, Illinois, Attorneys for SCOTT PELTZ, as Chapter 11 Plan Administrator for BIS Administration, Inc., f/k/a Bridge Information Systems, Inc. et al.
NOTICE OF COMPROMISE OF CLAIM 1889 OF McGRAW-HILL COMPANIES
DAVID McDONALD, Chief Judge, Bankruptcy
Scott Peltz, as Chapter 11 Plan Administrator for BIS Administration, Inc., f/k/a Bridge Information Systems, Inc., et al., by and through his attorneys, hereby notices the settlement and compromise of claim 1889 of McGraw-Hill Companies (“McGraw”), and states as follows:
1. On February 15, 2001, BIS and certain of its subsidiaries (collectively, the “Debtors”) filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Eastern District of Missouri, Eastern Division (the “Bankruptcy Court”).
2. In accordance with Section 8.03 of the Second Amended Joint Plan of Liquidation (“the Plan”), as confirmed by order of the Bankruptcy Court, and Section 1.2 of the Plan Administrator Agreement, the Plan Administrator may settle, compromise or otherwise resolve any Disputed Claim without approval of the Bankruptcy Court.
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3. McGraw filed proof of claim number 1889 in the amount of $1,471,157.00 against the Debtors on March 28, 2002 (“Claim 1889”), to which the Plan Administrator objected (“the Objection”).
4. The parties have entered into a settlement agreement, following arms-length negotiations, resolving the issues surrounding the allegations set forth in the Objection (the “Settlement Agreement”).
5. Under the terms of the Settlement Agreement, Claim 1889 shall be allowed as an unsecured, pre-petition, non-priority claim in the amount of Four Hundred and Five Thousand Dollars ($405,000.00) (the “Settlement Amount”) against the Debtor BIS America Administration, Inc. f/k/a Bridge Information Systems America, Inc., Case No. 01-41598-293.
6. McGraw agrees to withdraw any and all additional claims against the Debtors.
THEREFORE, Claim 1889 and the Objection are resolved, under the terms set forth in the Settlement Agreement.
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SO ORDERED, claim number 1889 filed by McGraw-Hill Companies shall be allowed as specified in the Notice of Compromise of Claim 1889 of McGraw-Hill Companies, this ____ day of August, 2004.
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