Case No. 01-52840-399.United States Bankruptcy Court, E.D. Missouri, Eastern Division.
April 21, 2003
ORDER AUTHORIZING THE DEBTORS TO (i) REJECT EXISTING LEASE OF THERMAL ARC, INC.; (ii) ENTER INTO NEW SUBLEASE AGREEMENT; AND (iii) THERMADYNE HOLDINGS TO CONTINUE CORPORATE GUARANTEE OF LEASE
BARRY SCHERMER, Bankruptcy Judge
Upon the motion dated March 19, 2003 (the “Motion”) of Thermadyne Holdings Corporation and certain of its direct and indirect subsidiaries, as debtors and debtors in possession (collectively, the “Debtors”), seeking an order authorizing (i) the Debtors to reject a lease of Thermal Arc, Inc. (the “Lease”), dated May 22, 2001, with MV Limited One LLC (the “Landlord”), (ii) approval of a new sublease in the form annexed to the Motion(the “Sublease”), with the Landlord and Prestolite Electric Inc. and (iii) continuation by Thermadyne Holdings of its obligations as guarantor under a certain corporate guarantee of lease (the “Guaranty Agreement”), and the Court having jurisdiction to consider the Motion and the relief requested therein in accordance with 28 U.S.C. § 1334; and due notice of the Motion having been provided, and it appearing that no other or further notice need be provided; and the Court having determined that the relief sought in the Motion is in the best interests of the Debtors, their estates and all parties in interest; and upon the Motion and all of the proceedings had before the Court; and after due deliberation and sufficient cause appearing therefor, it is
ORDERED that the Motion is granted; and it is further
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ORDERED that pursuant to section 365(a) of title 11 of the United States Code (the “Bankruptcy Code”), the Debtors are authorized to reject the Lease, as defined herein; effective as of and subject to the occurrence of the Effective Date[1]
of the Plan, and it is further
ORDERED that claims, if any, of the Landlord against the Debtors arising from the Debtors’ rejection of the Ohio Lease should be (i) filed with the Court and (ii) mailed to Bankruptcy Services LLC at 757 Third Avenue, 3rd Floor, New York, New York 10017 so as to be received on or before thirty (30) days after notice to the Landlord of the occurrence of the Effective Date of the Plan or be forever barred; and it is further
ORDERED that pursuant to section 363(b) of the Bankruptcy Code, the Debtors are authorized to enter into the Sublease, as defined herein; effective as of and subject to the occurrence of the Effective Date of the Plan, and it is further
ORDERED that the Sublease as defined herein, is approved pursuant to section 363(b) of the Bankruptcy Code; and it is further
ORDERED that the continuation of the Guaranty Agreement by Thermadyne Holdings is approved pursuant to section 363(b) of the Bankruptcy Code, effective as of and subject to the occurrence of the Effective Date of the Plan; and it is further
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ORDERED that nothing in this Order or the Motion shall be construed as prejudicing the Debtors’ rights to dispute or contest the amount or validity of any claims against the Landlord arising in connection with the Lease and Sublease under applicable non-bankruptcy law.
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