Case No. 01-52840-399, Jointly AdministeredUnited States Bankruptcy Court, E.D. Missouri
July 31, 2003
ORDER AUTHORIZING REJECTION OF CERTAIN OFFICE EQUIPMENT; AND GRANTING ADMINISTRATIVE EXPENSE CLAIM TO CITICORP VENDOR FINANCE, INC.
BARRY SCHERMER, Bankruptcy Judge
This matter having come before this Court upon Proof of Claim filed by Citicorp Vendor Finance, Inc. f/k/a Copelco Capital, Inc. (“Citicorp”) on or about February 13, 2002 (the “Citicorp Claim”), the Objection by the Debtors to the Citicorp Claim as contained in the Debtors’ Objection to Claims No. 3 filed with this Court on or about February 17, 2003 (the “Objection”); the Response of Citicorp to the Objection (the “Response”) and the Motion of the Debtors for Authorization to Reject Certain Office Equipment Leases filed on or about May 21, 2003 which include certain office equipment leases from which the Citicorp Claim arises (the “Motion to Reject”); and the Court having jurisdiction to consider the Citicorp Claim, the Objection, the Response and the Motion to Reject, the relief requested therein; and due notice of the Objection, the Response and the Motion having been provided to counsel for Debtor, counsel for Citicorp, the other parties in interest to the Motion to Reject, the United States Trustee for the Eastern District of Missouri, counsel to the secured lenders and counsel for the statutory creditors’ committee; the parties desire to resolve their differences as set forth in this Order; the
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Court having examined the Citicorp Claim, the Objection, the Response, the Motion to Reject and Order and having considered the record as a whole.
IT IS THEREFORE HEREBY ORDERED THAT:
1. The Motion to Reject is hereby granted and the Leases[1] are deemed rejected pursuant to 11 U.S.C. § 365.
2. The Lessors are entitled to immediate possession of the Equipment.
3. All rights of the Debtors are deemed abandoned as to the Equipment and Lessors are hereby entitled to exercise their rights and remedies under the Leases including but not limited to, immediate repossession of, and sale or other disposition of any or all of the Equipment and retention of the proceeds from any such sale or other disposition, provided, however, that any such proceeds realized shall be applied to the lease obligations of the Debtors to the Lessors.
4. The Lessors shall have thirty days from the date of this Order to file or amend any proof of claim relating to damages suffered as a result of the rejection of the Leases. Such claims shall be (i) filed with the Court, (ii) mailed to Bankruptcy Services LLC at 757 Third Avenue, 3rd Floor, New York, New York 10017 and (iii) served on undersigned counsel.
5. Citicorp is entitled to payment, and is hereby deemed to be a valid holder of an administrative expense claim in the amount of Ten Thousand Two Hundred and Fifty Six Dollars and Ninety Six Cents ($10,256.96).
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6. Except as expressly set forth herein, any outstanding issues as of the date hereof with regard to the Objection, the Response and Motion to Reject are hereby withdrawn by the parties hereto without prejudice to renew.
7. Counsel for the Debtor is directed to serve copies of this Order on all creditors and parties in interest in this proceeding.
8. This Court hereby retains jurisdiction over the parties to implement, interpret, clarify and enforce the terms and provisions of this Order.
SO ORDERED.
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