Case No. 01-16034 (AJG), Jointly Administered.United States Bankruptcy Court, S.D. New York.
July 28, 2005
ORDER APPROVING SETTLEMENT AGREEMENT BETWEEN ENRON CORP. AND ENRON ENERGY SERVICES, INC., AND EL PASO NATURAL GAS COMPANY PURSUANT TO FEDERAL RULE OF BANKRUPTCY PROCEDURE 9019
ARTHUR GONZALEZ, Bankruptcy Judge
Upon consideration of the Motion of Enron Corp. and Enron Energy Services, Inc. Pursuant to Federal Rule of Bankruptcy Procedure 9019 for Approval of Settlement with El Paso Natural Gas Company (the “Motion”),[1] 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 the relief requested herein having been given in accordance with this Court’s Second Amended Case Management Order Establishing, Among Other Things, Noticing Electronic Procedures, Hearing Dates, Independent Website and Alternative Methods of Participation at Hearings, dated December 17, 2002, and that no other or further notice need be given; and the relief requested in the Motion being in the best interests of Enron Corp. and Enron Energy Services, Inc. (collectively, the “Enron Parties”) and their creditors; and the Court having reviewed the Motion; and the Court having determined
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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, it is
ORDERED that the Motion is granted in all respects, and it is further
ORDERED that the settlement agreement between the Enron Parties and El Paso Natural Gas Company is hereby approved pursuant to Rule 9019 of the Federal Rules of Bankruptcy Procedure, and it is further
ORDERED that the Enron Parties 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
ORDERED that the Settlement Agreement may be amended by the parties thereto in accordance with the 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 exclusive jurisdiction to (i) enforce and implement the terms and provisions of the Settlement Agreement, and (ii) resolve any disputes arising under or in connection with the Settlement Agreement and any related documents. Furthermore, the Court shall retain exclusive jurisdiction to interpret, implement, and enforce the provisions of this Order, and it is further
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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. 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 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 implementation of the transactions contemplated in the Settlement Agreement be approved in its entirety, and it is further
ORDERED that the stay of this Order, to the extent provided by the Bankruptcy Rules (including Bankruptcy Rule 6004), whether for ten (10) days or otherwise, shall not be applicable to this Order, and this Order shall be effective and enforceable immediately upon entry.
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