Case No. 02-B02474 Jointly Administered.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
August 20, 2004
AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORE NO. 1792, F.K.A. 9734
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the lease rejection claim known as Claim 32348 (the “Lease Rejection Claim”) filed by Powderly Associates, landlord under the Lease of the property described as Store No. 1792, F.K.A. 9734 located in Powderly, KY, and the lease guaranty claim known as Claim 36401 filed by Sun Trust Bank, Bond Trustee under the Leases of the property described as Store No. 1792, F.K.A. 9734 located in Powderly, KY, and Kmart Corporation (“Kmart”) having filed an objection to the Lease Rejection Claim and Lease Guaranty Claim; and the Court being advised that Powderly Associates, Sun Trust and Kmart have resolved the Lease Rejection Claim and Lease Guaranty Claim; and after due deliberation and sufficient cause appearing therefore, it is hereby
ORDERED that Powderly Associates lease rejection claim, Claim 32348, shall be expunged in its entirety; and it is further
ORDERED that SunTrust Bank shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $289,009.23, Claim 36401, (the “Allowed Claim”) which shall be satisfied in accordance with the terms of Kmart’s confirmed plan of reorganization; and it is further
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ORDERED that the first distribution to be made on account of the Allowed Claim shall be made at the next Distribution Date, pursuant to the terms of Kmart’s plan of reorganization to:
Entity Name: SunTrust Bank as Trustee Company Tax ID #: 58-0466330 Company Contact person: Vincent R. Harrison Company Address: 201 4th Avenue North, 8th Floor, Nashville, Tennessee 37219
and it is further
ORDERED that upon entry of this Order, all claims by Powderly Associates and SunTrust against or arising out of Store No. 1792, F.K.A. 9734, shall be expunged in their entirety with the exception of the Allowed Claim; and it is further
ORDERED that Powderly Associates and SunTrust and their 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. 1792, F.K.A. 9734 except for the Allowed Claim.
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