Case No. 02-B02474, Jointly Administered.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
November 16, 2004
AGREED ORDER ASSIGNING REJECTION CLAIM FOR KMART STORE NO. 7263
Claim Nos. 29229 and 43006
SUSAN SONDERBY, Chief Judge, Bankruptcy
The Court having previously entered an Agreed Order Resolving Rejection Claim for KMART Store No. 7263 (“Lease Rejection Claim 7263“) (the “Prior Order,” attached hereto and made part hereof), the parties hereto having agreed to assign and assume certain rights thereunder, as set forth herein, and this assignment being in keeping with the parties’ intent under the Prior Order, it is hereby
ORDERED, that all rights to receive supplemental distributions of shares (made prior to September 1, 2004) on Lease Rejection Claim 7263, to be made on account of the Allowed Class 5 Rejection Claim, is assigned from PIMCO High Yield Fund to Lordhill Naranja Lakes Limited Partnership (EIN 65-0313810);
ORDERED, all supplemental distributions on Lease Rejection Claim 7263, including and after, the 1009 shares issued to PIMCO (Acct. No. 42307) on July 1, 2004 (Issue ID 212910) (CUSIP 498780105), shall be made to, or for the account of, Lordhill Naranja Lakes Limited Partnership, c/o Malman Goldman, LLP, 152 West 57th Street, 35th Floor, New York, NY 10019, Attn: Arthur B. Malman (EIN 65-0313810); and
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FURTHER ORDERED, that the bar order in the Prior Order is unaffected hereby.
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AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORE NO. 7263
Upon consideration of the lease rejection claim (the “Lease Rejection Claim”) filed by Lordhill Naranja Lakes Limited Partnership, landlord under the Lease of the properties described as Store No. 7263 located in Naranja Lakes, Florida, 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 landlord’s lender, Pacific Investment Management Series: PIMCO High Yield Fund (“PIMCO”) which has filed a protective claim has consented to this resolution and has consolidated its protective claim with landlord’s claim; and after due deliberation and sufficient cause appearing therefore, it is hereby
ORDERED that Lordhill Naranja Lakes Limited Partnership shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $1,347,204 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 Class 5 Rejection Claim shall be made at the next Distribution Date pursuant to the terms of Kmart’s plan of reorganization to:
a. Pacific Investment Management Series: PIMCO High Yield Fund
b. Tax ID #: 33-0484500
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c. Contact: John Hardaway
d. Address: 840 Newport Center Drive, Suite 100, Newport Beach, CA 92660
and the cash payment shall likewise be paid to the above, but any final distributions (i.e., after September 2004) shall be made to Lordhill Naranja Lakes Limited Partnership, c/o Malman Goldman, LLP, 152 West 57th Street, 35th Floor, New York, New York 10019, Attn: Arthur B. Malman (EIN 65-0313810); and it is further
ORDERED that the Landlord shall have an allowed Administrative Claim in the amount of $46,217.50 (payable to PIMCO High Yield Fund and mailed to 840 Newport Center Drive, Suite 100, Newport Beach, CA 92660 which shall be paid by Kmart within ten (10) days of the date of entry of this Order; and it is further
ORDERED that upon receipt of the payment described in this Order, Proofs of Claims No. 29229 and 43006 shall be satisfied in full; and it is further
ORDERED that Lordhill Naranja Lakes Limited Partnership and PIMCO and their respective successors, assigns or designees, are forever barred from asserting, collecting or seeking to collect any lease rejection or administrative expense amount in addition to the amounts set forth herein with respect to the Lease relating to Kmart Store No. 7263.