Case No. 02-B02474, Jointly Administered.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
June 30, 2004
AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORES NO. 3799
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the lease rejection claim (the “Lease Rejection Claim”) filed by Laurel Lakes, LLC (“Laurel Lakes”), landlord under the Leases of the properties described as Store No. 3799 located in Laurel, MD, and Kmart Corporation (“Kmart”) having filed an objection to the Lease Rejection Claim; and the Court being advised that landlord and Kmart have resolved the Lease Rejection Claim; and after due deliberation and sufficient cause appearing therefore, it is hereby
ORDERED that Laurel Lakes shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $975,000.00 (the “Allowed Claim”) which shall be satisfied in accordance with the terms of Kmart’s confirmed plan of reorganization; and it is further
ORDERED that the first distribution to be made on account of the Allowed Claim shall be made at the next Distribution Date, July 1, 2004, pursuant to the terms of Kmart’s plan of reorganization to:
Entity Name: Buttonwood Bay Investors
Company Tax ID #: 93-1009453
Company Contact person: John Greytak
Company Address: 3000 Tanglewood Parkway; Sebring, FL 33872
and it is further
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ORDERED that upon entry of this Order, Landlord’s claims against or arising out of Store No. 3799 shall be expunged in their entirety except for the Allowed Claim; and it is further
ORDERED that Laurel Lakes and its successors, assigns or designees, are forever barred from asserting, collecting, or seeking to collect any other claims or amounts with respect to the Lease relating to Kmart Store No. 3799 except for the Allowed Claim.