Case No. 01-16034 (AJG), Jointly Administered.United States Bankruptcy Court, S.D. New York.
April 14, 2005
ORDER PURSUANT TO BANKRUPTCY RULE 9019 APPROVING A SETTLEMENT AGREEMENT AND RELEASE RELATING TO A CUIABA POWER PLANT INSURANCE CLAIM
ARTHUR GONZALEZ, Bankruptcy Judge
Upon consideration of the Motion, dated March 31, 2005 (the “Motion”)[1] of Enron Corp. (“Enron”), Enron South America LLC (“ESA”), and Enron Power Corp. (“EPC”), Enron International, Inc. (“EI”), Enron do Brazil Holdings Ltd. (“Enron Brazil”) and Superior Construction Company (“Superior”, and together with Enron, ESA, EPC, EI and Enron Brazil, the “Movants”), as reorganized debtors, for an order pursuant to Rule 9019 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) approving a Settlement Agreement and Release (the “Settlement Agreement”) by and between the Movants, EPE-Empresa Produtora de Energia Ltda (“EPE”), EPE Holdings Ltd. (“EPE Holdings”), EPE Investments Ltd. (“EPE Investments”), Shell Cuiaba Holdings Limited (“Shell”), and Enron Power Construction Company (Brazil) Ltda (“Enron Power”, and together with the Movants and EPE, EPE Holdings, EPE Investments, and Shell, the “Claimants”), Munich Reinsurance Company UK General Branch (a Branch of Munchener Ruckversiche Rungs-Gesellschaft), Allianz Cornhill Insurance PLC, Gerling General
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Insurance Company UK Branch, Solen Versicherungen AG, Converium AG and Syndicates 457 and 1173 at Lloyds, London, England (collectively, the “International Underwriters”); and a hearing having been held on April 14, 2005 to consider the Motion and relief requested therein; and the Court having jurisdiction to consider the Motion and the relief requested therein pursuant to 28 U.S.C. §§ 157 and 1334; and it appearing that due and proper notice of the Motion and of the relief requested herein having been given in accordance with the Case Management Order, and that no other or further notice need be given; and the relief requested in the Motion being in the best interests of the Movants and their estates and creditors; and the Court having reviewed the Motion; and the Court having determined that the legal and factual bases set forth in the Motion establish just cause for the relief granted herein and that the settlement submitted for the Court’s approval in the Motion is fair and reasonable, and after due deliberation and sufficient cause appearing therefor; and it is hereby
ORDERED that the Motion is granted in all respects; and it is further
ORDERED that the Settlement Agreement is authorized and approved pursuant to Bankruptcy Rule 9019; and it is further
ORDERED that all objections to the Motion or the relief requested therein that have not been withdrawn, waived, or settled, and all reservations of rights included therein, are overruled on the merits, and those parties who did not object, or who withdrew their objections, to the Motion are deemed to have consented to the Motion; and it is further
ORDERED that the Movants are authorized to execute, deliver, implement and fully perform any and all obligations, instruments, documents and papers and to take any and all actions reasonably necessary to consummate the Settlement Agreement and perform any and all obligations contemplated therein; and it is further
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ORDERED that the Settlement Agreement may be amended by the Movants and the other Parties thereto (collectively, the “Settlement Parties”) in accordance with terms thereof without further order of the Court; provided, however, that any such amendment shall neither be material in nature nor change the economic substance of the settlement approved hereby; and it is further
ORDERED that the Court shall retain jurisdiction to interpret, implement, and enforce the provisions of this Order; and it is further
ORDERED that all distributions, assignments, and other actions provided for in the Settlement Agreement are authorized and shall be carried out in accordance therewith; and it is further
ORDERED that the failure to specifically include any particular provisions of the Settlement Agreement in this Order shall not diminish or impair the effectiveness of such provisions, it being the intent of the Court that the Movants’ implementation of the transactions, distributions, releases, discharges and other actions contemplated in the Settlement Agreement be approved in its entirety; and it is further