Case No. 02-02474 (Jointly Administered).United States Bankruptcy Court, N.D. Illinois, Eastern Division.
May 5, 2004
AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORE NO. 1813 1882
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the lease rejection claim (the “Lease Rejection Claim”) filed by Jeffrey Sandelman and Sanford Sandelman, landlords (the “Landlord”) under the Lease of the property described as Store No. 1813 and 1882, Roseville, MI; and Kmart Corporation and its affiliates (“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 the Lease Rejection Claim shall be allowed in the agreed amount of $560,087.93 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 Lease Rejection Claim shall be made at the next Distribution Date pursuant to the terms of Kmart’s plan of reorganization to:
a. Company Legal Name the stock will be registered in: Kin Properties, Inc.
b. Company Tax ID #: 13-2875908
c. Company Contact person that the stock registration notice will go to: Wayne Feldman
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d. Company Address for the same: Kin Properties, Inc., 185 NW Spanish River Blvd., Suite 100, Boca Raton, FL, 33431;
and it is further
ORDERED that the Landlord shall have an allowed Administrative Claim in the amount of $30,537.00 (payable to Kin properties,Inc. and mailed to Kin Properties, Inc., 185 NW Spanish RiverBlvd., Suite 100, Boca Raton, FL, 33431 with respect to Store No.’s 1813 and 1882 which shall be paid by Kmart within ten (10) days of the date of entry of this Order; and it is further
ORDERED that Kmart and any past, present or future assignee, designee or successor in interest thereto, is forever barred from asserting, collecting, or seeking to collect any claims against Landlord or its successors and assigns relating in any way to Store No.’s 1813 and 1882; and it is further
ORDERED that, except as otherwise indicated hereinabove, all persons who received notice 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.’s 1813 and 1882.
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