Case No. 04-08130-TOM-11.United States Bankruptcy Court, N.D. Alabama, Southern Division.
September 23, 2005.
ORDER APPROVING COMPROMISE BETWEEN DEBTORS AND ABB FLEXIBLE AUTOMATION, INC. f/k/a/ ABB, Inc.
TAMARA MITCHELL, Bankruptcy Judge
This matter came to be heard upon the motion (the “Motion”) of Citation Corporation (“Citation”), its holding company, and certain of its direct and indirect subsidiaries (the “Subsidiaries”), as debtors and debtors in possession (collectively, the “Debtors”), for authorization to enter into a settlement agreement with ABB Flexible Automation, Inc. f/k/a/ ABB, Inc. (“ABB”) pursuant to Rule 9019 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”); the Court having jurisdiction to consider the Motion and the relief requested therein in accordance with 28 U.S.C. §§ 157 and 1334; due notice of the Motion having been provided to all parties on the Master Service List and counsel for ABB; and it appearing that no other or further notice need be provided; the Court having determined that the relief sought in the Motion is in the best interests of the Debtors, their creditors, and all parties in interest; upon the Motion and all of the proceedings before this Court; and after due deliberation and sufficient cause appearing therefor, it is hereby
ORDERED that the Motion is GRANTED; and it is further
ORDERED that the terms and conditions of the settlement agreement attached to the Motion
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as Exhibit A (the “Settlement Agreement”) are approved; and it is further
ORDERED that, as set forth in the Settlement Agreement, ABB shall make a payment, via certified check, of $125,000.00 to Citation within ten (10) days after ABB’s receipt of a copy of this Order.
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