Case No. 02-B02474, Jointly Administered.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
October 15, 2004
AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORE NO. 4829
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the lease rejection claim (the “Lease Rejection Claim”) filed by Laguna Beach Water District (“Laguna Beach”), landlord under the Lease of the property described as Store No. 4829 located in Fountain Valley, California 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 Laguna Beach 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 pursuant to the terms of Kmart’s plan of reorganization to:
NAME OF ENTITY: Laguna Beach County Water District
TAX ID #: 95-6001796
NAME OF PERSON TO RECEIVE SERVICE: Bob Westphal,
Auditor/Treasurer
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ADDRESS FOR SAME: 306 Third Street, P.O. Box 987, Laguna Beach, California 92652
and it is further
ORDERED that upon entry of this Order, Laguna Beach’s claims against or arising out of Store 4829 shall be expunged in their entirety except for the Allowed Claim; and it is further
ORDERED that Laguna Beach Water District 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. 4829 except for the Allowed Claim.
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