IN THE MATTER OF: PHILIP LAMPOS, Chapter 7, Debtor. GENE R. KOHUT, Trustee Plaintiff, v. STEVE ELIAS LAMPOS and THE STEVE LAMPOS REVOCABLE TRUST, Defendants.

Case No. 10-52133-TJT, Adversary Proceeding No. 10-06206.United States Bankruptcy Court, E.D. Michigan, Southern Division.
November 5, 2010

ORDER DECLINING TO EXTEND TIME FOR PARTIES TO SUBMIT ORDER OF DISMISSAL IN CONNECTION WITH THE COURT’S OCTOBER 22, 2010 ORDER
THOMAS TUCKER, Bankruptcy Judge

This adversary proceeding is before the Court on the Stipulation of Plaintiff and Defendants (Docket # 24); the Court having previously entered an October 22, 2010 Order (Docket #22) requiring the parties to submit an order of dismissal or consent judgment no later than three days after entry of an order approving the settlement of this adversary proceeding; the parties having noted the settlement agreement entered into by the parties provides for payment of the settlement amount within seven calendar days after the Order Authorizing Trustee to Compromise Claim becomes a “final order” which date will be later than three days deadline contained in the October 22 Order.

The Court concludes, however, that the extension of time requested by the parties in the Stipulation is not necessary. If the parties cannot or do not meet the three-day deadline in the

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October 22 Order, the Court likely will dismiss this adversary proceeding without prejudice. But that will not preclude the parties from later filing a stipulation, and submitting an order reopening the adversary proceeding and amending the dismissal order to dismiss the adversary proceeding with prejudice, as contemplated by the parties’ settlement agreement. The Court is agreeable to entering such an order under those circumstances. In light of this, it is not necessary to extend the three-day deadline in the October 22 Order. Accordingly,

IT IS ORDERED that the Court declines to extend the deadline for Plaintiff to submit an order of dismissal or consent judgment, which is contained in the Court’s October 22, 2010 Order.

Signed on November 05, 2010

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