Case No. 02-B02474, Jointly AdministeredUnited States Bankruptcy Court, N.D. Illinois.
March 29, 2004
AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORE NO. 1353/1767
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the lease rejection claims (collectively, the “Lease Rejection Claim”) filed by PBC Investments, L.Q, subtenant and Telluride Enterprises, LLC7 landlord under the Lease of the property described as Store No. 1353/1767 located in Palm Bay, FL and Kmart Corporation (“Kmart”) having filed an objection to the Lease Rejection Claim; and the Court being advised that landlord, subtenant and Kmart have resolved the Lease Rejection Claim; and after due deliberation and sufficient cause appearing therefore, it is hereby
ORDERED that PBC Investments, L.C., shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $1,181,800.00, 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. Company Legal Name the stock will be registered in: PBC Investments, L.C,
b. Company Tax ID #: 59-3670169
c. Company Contact person that the stock registration notice will go to: James T. Rathmann, Trustee of the James T. Rathmann Revocable Trust u/a/d December 17, 1998, its Managing Member,
d. Company Address for the same: 800 S. Harbor City Blvd., Melbourne, FL 32901.
Page 2
and it is further
ORDERED that Telluride Enterprises, LLC, shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $718,200.00, 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. Company Legal Name the stock will be registered in: Telluride Enterprises, LLC.
b. Company Tax ID #: 59-3741516
c. Company Contact person that the stock registration notice will go to: Donna Revills,
Chief Financial Officer. d. Company Address for the same: 800 S. Harbor City Blvd., Melbourne, FL 32901,
and it is further
ORDERED that upon entry of this Order, landlord’s and subtenant’s claims against or arising out of Store 1353/1767 shall be expunged in their entirety; and it is further
ORDERED that PBC Investments, L.C., and Telluride Enterprises, LLC, and their successors, assigns or designees, are forever hatred from asserting, collecting, or seeking to collect any other claims or amounts with respect to the Lease relating to Kmart Store No, 1353/1767.