Case No. 02-B02474, (Jointly Administered).United States Bankruptcy Court, N.D. Illinois, Eastern Division.
July 15, 2003.
ORDER APPROVING SETTLEMENT AGREEMENT WITH THE UNITED STATES REGARDING ENVIRONMENTAL CLAIMS
SUSAN PIERSON SONDERBY, United States Bankruptcy Judge
Upon the motion dated June 25, 2003 (the “Motion”), wherein Kmart Corporation and certain of its domestic subsidiaries and affiliates, former debtors and debtors-in-possession in the above-captioned cases (collectively, “Kmart”), moved this Court for entry of an order approving that certain settlement agreement, a copy of which is attached hereto as Exhibit 1
(the “Settlement Agreement”), between Kmart and the United States of America (the “United States”) on behalf of the United States Environmental Protection Agency (the “EPA”), the United States Department of the Interior (the “DOI”) and the National Oceanic and Atmospheric Administration of the United States Department of Commerce (“NOAA”); it appearing to the Court that (i) it has jurisdiction over the matters raised in the Motion pursuant to 28 U.S.C. § 157 and 1334; (ii) this is a core proceeding pursuant to 28 U.S.C. § 157(b)(2); (iii) the relief requested in the Motion is in the best interests of Kmart; (iv) proper aid adequate notice of the Motion and the hearing thereon has been given and that no other or further notice is necessary and; (vi) the Settlement Agreement is fair, reasonable, and consistent with the goals of the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. § 9601 et seq. (“CERCLA”) (v) upon the record herein after due deliberation thereon, that the relief should be granted as set forth below,
IT IS HEREBY ORDERED THAT Kmart’s decision to enter into the Settlement Agreement is reasonable and appropriate under the circumstances and the Settlement Agreement is hereby approved.