IN RE CONSECO (Bankr.N.D.Ill. 2003)

In re: Conseco, Inc., et al.,[1] Chapter 11 Debtors.

Case No. 02 B49672 (Jointly Administered)United States Bankruptcy Court, N.D. Illinois, Eastern Division.
March 20, 2003

[1] The Debtors are the following entities: (i) Conseco, Inc., CIHC, Incorporated, CTIHC, Inc., Partners Health Group, Inc., Conseco Finance Corp. and Conseco Finance Servicing Corp. (collectively, the “Initial Debtors”) and (ii) Conseco Finance Corp. — Alabama, Conseco Finance Credit Corp., Conseco Finance Consumer Discount Company, Conseco Finance Canada Holding Company, Conseco Finance Canada Company, Conseco Finance Loan Company, Rice Park Properties Corporation, Landmark Manufactured Housing, Inc., Conseco Finance Net Interest Margin Finance Corp. I, Conseco Finance Net Interest Margin Finance Corp. II, Green Tree Finance Corp. — Two, Conseco Agency of Nevada, Inc., Conseco Agency of New York, Inc., Green Tree Floorplan Funding Corp., Conseco Agency, Inc., Conseco Agency of Alabama, Inc., Conseco Agency of Kentucky, Inc., and Crum-Reed General Agency, Inc. (collectively, the “CFC Subsidiary Debtors”).

ORDER AUTHORIZING THE DEBTORS TO ENTER INTO A SEPARATION AGREEMENT WITH DAVID K. HERZOG PURSUANT TO UNDER SECTIONS 363(b) AND 503(b) OF THE BANKRUPTCY CODE AND FED. R. BANKR. P. 9019
CAROL A. DOYLE, United States Bankruptcy Judge.

Upon the motion (the “Motion”)[2] of the above-captioned debtors and debtors-in-possession (collectively, the “Debtors”) for the entry of an order pursuant to sections 363(b) and 503(b) of title 11 of the Bankruptcy Code and F.R.Bankr.P. 9019 authorizing the Debtors to enter into the Separation Agreement with David K. Herzog; and it appearing that this Court has jurisdiction over this matter pursuant to 28 U.S.C. § 157 and 1334; and it appearing that this proceeding is a core proceeding pursuant to 28 U.S.C. § 157(b)(2); and it appearing that venue of this proceeding and this Motion is proper in this District pursuant to 28 U.S.C. § 1408 and 1409; and due and proper notice of the Motion having been given; and after due deliberation and it appearing that sufficient cause exists for granting the requested relief and that the relief requested under the Motion is in the best interests of the Debtors’ estates and creditors; and it appearing that the Separation Agreement was negotiated at arms’ length between the parties; it is hereby

ORDERED that the Motion is granted; and it is further

ORDERED that the Debtors are authorized to enter into the Separation Agreement, substantially in the form attached to the Motion, with David K. Herzog; and it is further

ORDERED that any payments made pursuant to the Separation Agreement will be treated as administrative expenses pursuant to section 503(b) of the Bankruptcy Code; and it is further

ORDERED that this Court shall retain jurisdiction over all matters arising from the Motion.

[2] All capitalized terms not defined herein shall have the meaning ascribed to them in the Motion.