Case No. 01-16034 (AJG). Jointly Administered.United States Bankruptcy Court, S.D. New York.
March 23, 2005
Michael D. Malloy (MM 5106), FINESTEIN MALLOY, LLC, Chatham, New Jersey, ATTORNEYS FOR SPALJ CONSTRUCTION COMPANY.
Martin J. Bienenstock (MB 3001), Brian S. Rosen (BR 0571), Melanie Gray (Pro Hac Vice), WEIL GOTSHAL MANGES LLP, New York, New York, ATTORNEYS FOR REORGANIZED DEBTORS.
STIPULATION AND ORDER RESOLVING THE SEVENTY-FIRST OMNIBUS OBJECTION TO PROOF OF CLAIM NO. 7237 SPALJ CONSTRUCTION COMPANY
ARTHUR GONZALEZ, Bankruptcy Judge
Enron Broadband Services, Inc. (“EBS”), as reorganized debtor (the “Reorganized Debtor”), and Spalj Construction Company (“Spalj,” and together with EBS, the “Parties”), by and through their respective undersigned counsel, hereby stipulate and agree as follows:
RECITALS: Procedural Background:
A. On December 2, 2001 (the “Petition Date”) and from time to time thereafter, Enron Corp. (“Enron”) and certain of its direct and indirect subsidiaries (collectively, the “Debtors”)[1] filed voluntary petitions for relief under chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”).
B. On July 15, 2004, the Court entered an order (the “Confirmation Order”) confirming the Debtors’ Supplemental Modified Fifth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code, dated as of July 2, 2004 (the “Plan”). On November 17, 2004, the Plan became effective.
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The Proofs of Claim:
C. On or about October 8, 2002, Creditor filed Proof of Claim No. 7237 in the amount of $254,124.30 in EBS chapter 11 case (the “Claim”).
D. On or about December 17, 2004, the Reorganized Debtors filed their Seventy-First Omnibus Objection to Proof of Claims (Modify and Allow) (the “Objection”), pursuant to which the Reorganized Debtors sought to have the Claim modified and allowed.
E. On January 18, 2005, Spalj filed the Response of Spalj Construction Company to Reorganized Debtors’ Seventy-First Omnibus Objection to Proofs of Claim and Request for Modification and Allowance of Claims (the “Response”).
F. The Parties now desire to resolve the Objection, the Response and provide for the allowance of the Claim on the terms and conditions provided herein.
AGREEMENT
NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES, BY AND THROUGH THEIR RESPECTIVE COUNSEL, AS FOLLOWS:
1. Proof of Claim No. 7237 shall be allowed as follows: $179,100.00 will be allowed as a Secured Claim (as defined in the Plan) and $74,900.00 will be allowed as a General Unsecured Claim (as defined in the Plan) against EBS (collectively the “AllowedClaim”). All Scheduled Liabilities related to Creditor as set forth in the liability schedules filed with the Court are hereby disallowed in their entirety in favor of the Allowed Claim.
2. The Parties agree that this Stipulation and Order is the entire understanding of the Parties and is intended to be the complete and exclusive statement of the terms thereof and may not be modified or amended except by a writing signed by all the Parties hereto, which shall be so ordered by the Court.
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3. The Stipulation and Order shall become effective and binding as of entry of the Stipulation and Order on the docket as “so ordered” by the Court. In the event that this Stipulation and Order is not approved by the Court, it shall be null and void and have no force and effect.
4. This Court shall retain exclusive jurisdiction with respect to any and all issues or disputes that may arise in connection with this Stipulation and Order.
5. This Stipulation and Order shall be binding on the Parties hereto and their respective successors and assigns.
6. This Stipulation and Order may be executed in any number of counterparts and shall constitute one agreement, binding upon all Parties thereto as if all Parties signed the same document; all facsimile signatures shall be treated as originals for all purposes.
SO ORDERED.
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