Case No. 02-B02474, Jointly Administered.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
August 2, 2004
AGREED ORDER RESOLVING LEASE REJECTION CLAIM FOR KMART STORE NO. 3826
SUSAN SONDERBY, Chief Judge, Bankruptcy
Upon consideration of the lease rejection claim (the “Lease Rejection Claim”) filed by James R. Kirkpatrick Family Trust (“Kirkpatrick”), landlord under the Lease of the properties described as Store No. 3826 located in Albemarle, North Carolina, 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 Kirkpatrick shall have an Allowed Class 5 Lease Rejection Claim in the agreed amount of $1,000,000.00 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:
James R. Kirkpatrick Family Trustb. Company Tax ID #:521-54-3828c. Company Contact person that the stock registration notice will go to:
Tammy Pearsond. Company Address for the same: c/o Centerpoint Plazac/o Security Management, Inc. PO Box 5729 Pinehurst, NC 28374
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and it is further
ORDERED that Kirkpatrick shall have an allowed Administrative Claim in the amount of $16,000.00, which shall be paid within 10 days of the entry of this order to,
c/o Centerpoint Plaza c/o Security Management, Inc. PO Box 5729 Pinehurst, NC 28374 ATTN: Tammy Pearson
and it is further
ORDERED that upon entry of this Order, Landlord’s claims against or arising out of Store 3826 shall be expunged in their entirety; and it is further
ORDERED that the James R. Kirkpatrick Family Trust 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. 3826.
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