Case No. 00-34533, Jointly Administered.United States Bankruptcy Court, E.D. Virginia, Richmond Division.
May 19, 2005
Bruce H. Matson (Va. Bar No. 22874), Troy Savenko (Va. Bar No. 44516), Katherine Macaulay Mueller (Va. Bar No. 44302), LeCLAIR RYAN, A Professional Corporation, Richmond, Virginia, Counsel for the Debtors.
ORDER GRANTING MOTION TO APPROVE INTERCOMPANY SETTLEMENT AND COMPROMISE PURSUANT TO RULE 9019 OF THE FEDERAL RULES OF BANKRUPTCY PROCEDURE
DOUGLAS TICE, Chief Judge, Bankruptcy
This matter is before the Court on the motion of Heilig-Meyers Company (“HMC”), Heilig-Meyers Furniture Company (“FurnitureCompany”), MacSaver Financial Services, Inc. (“MacSaver”), Heilig-Meyers Furniture West, Inc., (“HMFW”), and HMY Star, Inc., (“HMY”; and together with HMC, Furniture Company, MacSaver and HMFW, the “Affiliated Debtors”), HMY RoomStore (“RoomStore,” together with the Affiliated Debtors, the “Debtors”), for entry of an order pursuant to sections 105(a), 363(b), 363(f), 365(b), and 365(f) of title 11 of the Unites States Code (the “Bankruptcy Code”) and Rules 2002, 6004, 6006, and 9019 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) approving the intercompany settlement and compromise between the Affiliated Debtors and RoomStore (the “Motion”), the Court having reviewed the Motion and having heard the statements of counsel in support of the relief requested therein at a hearing before the Court, and it appearing that the Court has
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jurisdiction to consider the matter; and good cause being shown; and it being apparent that the relief requested by the Motion is in the best interests of the Debtors, their estates and their creditors; and due and proper notice of the Motion having been given; and any and all objections to the Motion were withdrawn, resolved or sustained; the Court is of the opinion that the proposed relief requested in the Motion should be granted. Therefore, it is hereby,
ORDERED that the Motion is GRANTED pursuant to Rule 9019 of the Bankruptcy Rules and sections 105(a), 363(b), 363(f), 365(a), and 365(f) of the Bankruptcy Code, and it is further
ORDERED, that all capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Motion, and it is further
ORDERED that the Debtors are authorized to take all actions as may be necessary to implement and effectuate the Settlement Agreement, and it is further
ORDERED that the Miscellaneous RoomStore Assets shall be conveyed to Reorganized RoomStore free and clear of liens, claims, and encumbrances pursuant to section 363(f) of the Bankruptcy Code, and it is further
ORDERED that the Debtors are hereby authorized and directed in accordance with section 365 of the Bankruptcy Code to assume and assign to RoomStore those Miscellaneous RoomStore Assets which are unexpired non-residential real property leases, and it is further
ORDERED that the Commercial Net Lease Realty, Inc. (“CNLR”) leases were assumed and assigned to RoomStore pursuant to this Court’s order dated December 14, 2004 (the “CNLR Order”). The CNLR Order remains in full force and effect in all respects, and this Order shall have no effect on the CNLR Order and the relief provided therein, and it is further
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ORDERED that in the event any provision of this Order is inconsistent with the terms of the Settlement Agreement, the Order shall control, and it is further
ORDERED that this Court shall retain jurisdiction over all matters related to or arising from the Motion or the interpretation or implementation of this Order.
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