IN RE KMART CORPORATION (Bankr.N.D.Ill. 2004)

In re: KMART CORPORATION, et al., CHAPTER 11, Debtors

Case No. 02-B02474 Jointly AdministeredUnited States Bankruptcy Court, N.D. Illinois.
March 3, 2004

AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR. KMART STORE NO. REH 5813 (Claim no. 14561)
SUSAN SONDERBY, Chief Judge, Bankruptcy

Upon consideration of the lease rejection claim (the “Lease Rejection Claim”) filed by GBR Olean LLC, landlord under the Lease of the property described as Store No. REH 5813 located in Allegany, New York, 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 GBR Olean LLC, shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $164,859.10 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 and in the manner described below:

a. One-Sixth (1/6th) of the distribution shall be made to Joshua J. Grossman. The stock registration notice will go to Mr. Joshua J. Grossman c/o Cindy Bohlander, 150 White Plains Road, Suite 400, Tarrytown, New York 10591;
b. One-Sixth (1/6th) of the distribution shall be made to Rachel Grossman. The stock registration notice will go to Ms. Rachel Grossman c/o Cindy Bohlander, 150 White Plains Road, Suite 400, Tarrytown, New York 10591;

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c. One-Third (1/3rd) of the distribution shall be made to Richard A. Grossman. The stock registration notice will go to Mr. Richard A. Grossman c/o Cindy Bohlander, 150 White Plains Road, Suite 400, Tarrytown, New York 10591; and
d. One-Third (1/3rd) of the distribution shall be made to Richard A. Baker and Gerald H. Baker as Trustees under Indenture of Trust dated May 24, 1968 for the benefit of Robert C. Baker, Tax ID # 13-6342014. The stock registration notice will go to Richard A. Baker, National Realty and Development Corp., 3 Manhattanville Road, Purchase, New York 10577; and it is further

ORDERED that upon receipt of the payment described in this Order, Proof of Claim No, 14561 shall be expunged in its entirety; and it is further

ORDERED that GBR Glean LLC, and its 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. REH 5813.